1. WFP User Guide
  2. Units
  3. Units Screen
  4. Rate Change sub tab

6.2.5 Rate Change sub tab

Oracle Financial Services Lending and Leasing applies the rate change to the amounts on Units Balances (Balances link) and Units Transactions (Transactions link) pages.
To change the interest rate for a unit

On the Oracle Financial Services Lending and Leasing home screen, click WFP > WFP > Units > Rate Change.

  1. In the Producers section, select the producer with the units you want to work with.
  2. In the Credit Lines section, select the active credit line with the units you want to work with.
  3. In the Units section, select the unit you want to work with.
    The Units screen’s Rate Change section enables you to change to rate applicable to the unit.
  4. In the Rate Change section, enter the following information:

    Table 6-4 Rate Change section

    In this field Do this
    Margin Rate Enter the new margin rate to be applied on the index rate.This cannot be a negative number (required).
    Index Type Select the new index type (required).
    Effective Dt

    The date from when the new rate is applicable. This is either:

    Nothing less than the last billing date

    -or-

    The contract date for the unit, whichever is greater.

    It cannot be a future date (required).
    Reason Select the reason for the rate change (required).
    Comment Enter any comments related to the rate change operation (required).
    Index Rate Enter the index rate applicable for the selected index type (display only).
    Total Rate

    Enter the new interest rate for the unit. The total rate equals the index rate plus the margin rate.

    This is rate applicable for interest computation for the units (display only).
  5. In the Rate Change section, click Apply button to apply new rate on the unit.

Parent topic: Units Screen