1. Loan Collection Setup Guide
  2. Product
  3. Regulatory Rates

4.2 Regulatory Rates

Regulatory rate is the interest rate offered while funding a loan contract which may or may not vary from the contract rate (market rate). The regulatory rates tab allows you to maintain various regulatory rate definitions with specific interest rates and criteria which are used in Origination > Contract screen while defining a loan contract with imputed interest. For more information, refer to Imputed Interest section in Loan Origination User guide.

To set up Regulatory Rates
  1. Click Setup > Setup > Products > Regulatory Rates.
  2. In the Regulatory Rates Definition section, perform any of the Basic Operations mentioned in Navigation chapter.

    Figure 4-2 Regulatory Rates Definition


    Description of Figure 4-2 follows
    Description of "Figure 4-2 Regulatory Rates Definition"

  3. A brief description of the fields is given below:

    Table 4-9 Regulatory Rates Definition

    Field Do this
    Regulatory section
    Name Specify an unique name for the regulatory rate definition. This field is not editable once you save the record.
    Description Specify a description for the regulatory rate definition.
    Start Dt Select the start date from when the regulatory rate definition is effective using the adjoining calendar.
    End Dt Select the end date up to when the regulatory rate definition is effective using the adjoining calendar.
    Enabled Check this box to enable the regulatory rate definition.
    Rate Specify the regulatory interest rate to be used for calculation. The rate specified here is populated to Origination > Contract screen while defining loan contract with imputed interest.
    Selection Criteria section
    Company Select the company for the instrument from the drop-down list. This may be ALL or a specific company.
    Branch Select the branch within the company for the instrument from the drop-down list. This may be ALL or a specific branch. This must be ALL, if you have selected ALL in the Company field.
    Billing Cycle
    Select the billing cycle frequency for the instrument as one of the following from the drop-down list.
    • MONTHLY (Default)
    • WEEKLY
    • BI WEEKLY
    • QUARTERLY
    • SEMI ANNUAL
    • ANNUAL
    Product Select the product for the instrument from the drop-down list. This may be ALL or a specific product defined in the system.
    Asset Class Select the asset class for the instrument from the drop-down list. This may be ALL or a specific asset class. The list is populated based on Class setup defined in the system.
    Asset Type Select asset type for the instrument from the drop-down list. This may be ALL or a specific asset type. The list is populated based on Asset Types setup defined in the system.
    Sub Type Select the asset sub type for the instrument from the drop-down list. This may be ALL or a specific asset sub type. The list is populated based on Asset Types setup defined in the system.
    Asset Make Specify the asset make from the drop-down list. If ALL was selected for either Asset Type or Asset Sub Type, then ALL will be the only available option for selection.
    Asset Model Specify the asset model from the drop-down list. If ALL was selected for either Asset Type or Asset Sub Type, then ALL will be the only available option for selection.
    State Select the state for the instrument from the drop-down list. This may be ALL or a specific state.
    Currency Select the currency for the instrument from the drop-down list. This may be ALL or a specific currency.
  4. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Product