2.1.9 Interest Details

This topic provides the systematic instructions to view the interest rates and margin (%) applicable / levied for this credit card application.

Interest Details data segment will enable the user to view the interest rates and margin (%) applicable / levied for this credit card application.

To add interest details:

1. Click Next in the previous data segment to proceed with the next data segment, after successfully capturing the data.

   The Interest Details screen displays.

   Figure 2-11 Interest Details

   
   

   
   Description of "Figure 2-11 Interest Details"

   
   
2. Specify the fields on Interest Details screen.

   Note:

   The fields, which mentioned as Required, are mandatory.

   For more information on fields, refer to the field description table.

   Table 2-14 Interest Rates – Field Description

   Field	Description
   Interest Rate	In this section interest rate is fetched from host back end product to which this credit card account is mapped via the Business Product configuration.
   Interest Rate (In %)	Specify the interest rate in percentage. By default it is fetched from host back end product to which this credit card account is mapped via the Business Product configuration.
   Margin (in %)	Specify the customer margin in percentage.
   Effective Rate (In %)	Displays the effective rate for the loan calculated in below formula Effective Rate =Interest Rate + or – Margin.

3. Click Next to navigate to the next data segment, after successfully capturing the data. The system validates for all mandatory data segments and data fields. If mandatory details are not provided, the system displays an error message for the user to take an action. The User cannot to proceed to the next data segment, without capturing the mandatory data.