1.28.1 Create Interest Rate

This topic describes the systematic instructions to configure a interest rate.

Specify User ID and Password, and login to Home screen.

1. On Homescreen, click Core Maintenance, under Core Maintenance, click Interest Rate Maintenance.
2. Under Interest Rate Maintenance, click Create Interest Rate.
   The Create Interest Rate screen displays.

   Figure 1-63 Create Interest Rate

   
   

   
   Description of "Figure 1-63 Create Interest Rate"

   
   
3. Specify the fields on Create Interest Rate screen.

   Note:

   The fields marked as Required are mandatory.

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

   Table 1-63 Create Interest Rate – Field Description

   Field	Description
   Branch Code	Click the Search icon to view and select the branch from the list. The list displays all the branch code maintained in the system.
   Rate Code	Specify the rate code for the selected branch.
   Description	Specify the description of the rate code.
   Type	Select the rate type from the drop-down list. The available options are : Fixed Floating
   Quote Basis	Select the quote basis for the rate from the drop-down list. The available options are : Per Annum Exponential-252 Exponential-365 Linear-360
   Propagate Rates to branches	Select the toggle to enable the propagate rates across all the branches of the bank. Note: When the rate code is modified at the Head Office Branch a corresponding rate code record will be created and replicated to all the branches.
   Currency Details	Click + icon and popup screen appears to add the associates currencies to the rate code.
   Currency Code	Click the Search icon to view and select the currency from the list.
   Description	Displays the description of the selected currency code.

4. Perform the following actions for Amount Slab Details:
   1. Click + button to add the new row to amount slab.

      Table 1-64 Amount Slab Details - Field Description

      Field Name	Description
      Amount Slab	Specify the amount for the rate code.
      Effective Date	Select the date from when the rate needs to be effective for the amount slab. Note: The effective date will be applicable until the new effective date Is provided for the rate.
      Borrow Lend Indicator	Select the borrow lend indicator of the rate from the drop-down list. The available options are: Borrow - The rate is applied for deposits taken by the bank Lend- The rate is applied for loans given to Customers.

   2. Select the rows and click - button to delete the rows added for amount slab.
5. Perform the following actions for Tenor and Interest Details:
   1. Click + button to add the new row to tenor and interest details.

      Table 1-65 Tenor and Interest Details - Field Description

      Field Name	Description
      Tenor To	Specify the tenor upto which the interest rate needs to be effective.
      Units	Select the units for the tenor slab from the drop-down list. The available options are: Days Weeks Months Years
      Interest Rate	Specify the interest rate of the rate code for the tenor.

   2. Select the rows and click - button to delete the rows added for tenor and interest details.
6. Click Save to save the details.
   The Interest Rate Maintenance is successfully created and can be viewed using the View Interest Rate screen.