15.1 Create Fees and Charges

The Create Fees and Charges page facilitates you to create a fee to be applied on the account.

Table 15-1 Create Fees and Charges

Field Name	Description
Code	Indicates the unique identification code of the fees and charge.
Description	Indicates the description of the fees and charge.
Type	Indicates the type of fee to be calculated. The options are: Late Fees PTP Broken Reversal Legal Charges Vendor Fees Repossession Charges Bankruptcy Charges Others
Product Processor	Indicates the product processor applicable for the fees and charge.
Effective Date	Indicates the date from when the fees and charge is effective in the system. Note: The date should be later than or equal to the business date. However, it must be earlier than or equal to the expiry date.
Expiry Date	Indicates the date till when the fees and charge is effective in the system. Note: The date should be later than or equal to the business date. However, it must be later than or equal to the effective date.
Fee Category	Indicates the category of the fee to be calculated. The options are: Fixed Amount Fixed Percent
Fee Method	Indicates the method used for fee calculation. The options are displayed dynamically depending on the fee category selected: Fixed Amount Fixed Percent
Fee Value	Indicates the actual value of Fee that will be calculated and applied.
Base Amount Field	Indicates the Amount field based on which fee will be calculated. The options are: Overdue Amount Outstanding Amount Promised Amount Received Amount Principal Amount Interest Amount
Selection Criteria	This section is used to configure rules for auto calculation of fees and charge by the system. For more information on how to configure rules, see Oracle Banking Common Core User Guide.

• Creating Fees and Charges