The Index Rates maintains your organization’s history of periodic changes in index rates as it applies to wholesale floor planning.

It allows you to define the interest rate for the loans extended to the producers by type of credit line. The index rate provides the base rate for a credit line where:

interest rate = index rate + margin rate.

An index type can have different rates depending on the start date. For each index type, the Index Rates section records the interest rate and the start date after which the rate is applicable. If you do not want to use a variable index rate, you can use the flat rate index.