1.28 Interest Rate

This topic describes the information to configure a Interest Rate.

When banks or financial institutions want to define rates that are common across multiple loans, such rates are referred to as Base rates

A base interest rate can be applied to a loan with or without spread to derive the final rate.

The Interest Rate Type maintained and further used in Product can be one of the following:

• Fixed
• Floating

• Create Interest Rate
  This topic describes the systematic instructions to configure a interest rate.
• View Interest Rate
  This topic describes the systematic instructions to view the list of configured Interest Rate Maintenance.