1.9.2.1.5 Interest Details
Interest details can be added for the application in the SME Drawdown - Application Enrichment Stage.
For information on the screen fields, refer to the field description table below.
Table 1-81 Interest Details - Field Description
| Field | Description |
|---|---|
| Loan Branch | The branch for which the rate code is maintained. |
| Loan Amount | The loan amount for which the interest details will be maintained. |
| Value Date | The date on which the loan contract came into effect. |
| Component Name | Specific Interest components which are defined will be displayed. |
| Rate Type | The Interest Rate Type of a product will be displayed. |
| Interest Period Basis | The system must consider the tenor basis of computing the interest over a schedule or interest period when maintaining the limits of interest component that associated with the selected product. |
| Billing Notice Required | Toggle this button to notify the billing to the customer before the repayment date. |
| Billing Notice Days | The number of calender days before the repayment date that a Billing Notice must be generated for the customer. |
| Waiver | An interest component's defined attributes are applied to the contract involving the product. If, for some reason you do not want to apply the interest component for the contract you are processing, you can do so by checking this field. The interest is calculated but it is not applied on the contract. |
| Sub Rate Type | Select Rate code defined by the system. |
| Rate Fixing required | Toggle this button to fix the interest rate for the specific number of days. |
| Rate fixing days | Specifies the number of days to maintain the rate the same. |
| Reset tenor | Based on loan booking, tenor will be reset to a new value. |
| Alternative Risk Free Rate | It is one type of rate required for the loan. |
| Min Max Rate (Range) | Specify the minimum and maximum rate for that product. |
| Rate Code | The interest Rate which has to be considered for computing. |
| Rate (%) | The rate of interest for that component. |
| Rate Spread | Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. |
| All in Rate | All-in rate is the rate that a financial institution uses in charging customers for accepting bankers acceptances, consisting of the bankers acceptance rate. |
Parent topic: Application Enrichment