3.2.10 Interest

This section provides the systematic instructions to capture the Interest details.

Details of the interest computation, accrual and liquidation for all contracts under the product are captured here.
Specify the User ID and Password, and login to Homepage.

Navigate to Bills and Collections Product Definition screen.

  1. On Bills and Collections Product Definition screen, click Interest.
    Interest Details screen is displayed.

    Figure 3-10 Interest Details


    Description of Figure 3-10 follows
    Description of "Figure 3-10 Interest Details"
  2. On the Interest Details screen, specify the details as required and click Ok to Save the details else click Exit.
    For information on fields, refer to: Table 3-20.

    Table 3-20 Interest - Field Description

    Field Description
    Collection Type Indicate the method for collecting interest for the components by choosing one of the following:
    • Advance
    • Arrears
    Refer the User Manual on Interest under Modularity for further details.

Parent topic: Bills and Collections Product Definition