Interest Rate Change Notification Details
Purpose
Access
- Variable Loans | Create & Maintain Interest Rate Notifications |
Dialog
| Field | Explanation |
| Interest Rate Change % | Display the rate change % entered on the Browse dialog The rate can be changed on an account by account basis May be a positive or negative
Range may only be between -10% and + 10% |
| Calculation Date | Date to which all calculations are to be undertaken This will display as the Next Interest date
on the loan account |
| Calculation Type | |
| Communication Type | Display the communication type entered on the browse dialog |
| Existing | |
| Unpaid Balance | Display only Unpaid balance as at the calculation date on the dialog - the Next Interest date on the loan account |
| Loan Maturity Date | Display only Maturity Date on the Variable Loan Account |
| Instalments - Frequency | Display only Instalment Frequency on the Variable Loan Account |
| Instalments - Number | Display only Remaining instalments to post from Next Instalment Date to
Loan Maturity Date |
| Instalments - Amount | Display only Instalment Amount on the Variable Loan Account |
| Direct Debit - Frequency | Display only Direct Debit Frequency on the Variable Loan Account |
| Direct Debit - Date | Display only Standard Direct Debit Date on the Variable Loan Account |
| Direct Debit - Amount | Display only Standard Direct Debit Amount on the Variable Loan Account |
| Annual Principal Interest Rate | Display only Latest Interest Rate from the Future Ledger Interest Profile |
| Annual Default Interest Rate | Display only Latest Interest Rate from the Current Ledger Interest Profile |
Principal & Interest
Dialog Specific Details
Projected - Principal & Interest
| Field | Explanation |
Unpaid Balance | Display only Unpaid balance as at the calculation date on the dialog - the Next Interest date on the loan account |
Loan Maturity Date | Display only Maturity Date on the Variable Loan Account |
Instalments - Frequency | Display only Instalment Frequency on the Variable Loan Account |
Instalments - Number | Display only Remaining instalments to post from Next Instalment Date to Loan Maturity Date |
Instalments - Amount | New Instalment amount calculated at the new interest rate on the loan |
Direct Debit - Frequency | Will default to the current direct debit frequency This can be changed if the direct debits will be taken at a different frequency to the current setup |
Direct Debit - Date | Will default to the current next direct debit date This can be changed if the direct debits will be taken at a different frequency to the current setup If the account holder is not paying by direct debit this can be left blank |
Direct Debit - Amount | Calculated value for the direct debit including any recurring charges that are set up on the account If the account holder is not paying by direct debit this can be left blank |
Annual Principal Interest Rate | Display Only New Interest Rate to be applied to the Principal Ledger - calculation is the latest rate on the interest profile adjusted by the Interest Rate Change % |
Annual Default Interest Rate | Display Only New Interest Rate to be applied to the Principal Ledger - calculation is the latest rate on the interest profile adjusted by the Interest Rate Change % |
Interest Only
Dialog Specific Details
Projected - Interest Only
| Field | Explanation |
| Unpaid Balance | Display only Unpaid balance as at the calculation date on the dialog - the Next Interest date on the loan account |
| Loan Maturity Date | Display only Maturity Date on the Variable Loan Account |
| Instalments - Frequency | Display only Instalment Frequency on the Variable Loan Account |
Instalments - Number | Enter the number of Interest Only Instalments |
| Instalments - Number Column 2 | New Interest Only Instalment amount calculated at the new interest rate on the loan |
Instalments - Amount | Display only Remaining instalments to post from Next Instalment Date to Loan Maturity Date after the Interest Only Period |
| Instalments - Amount Column 2 | New Principal and Interest Instalment amount calculated at the new interest rate on the loan |
| Direct Debit - Frequency | Will default to the current direct debit frequency This can be changed if the direct debits will be taken at a different frequency to the current setup |
| Direct Debit - Date | Will default to the current next direct debit date This can be changed if the direct debits will be taken at a different frequency to the current setup If the account holder is not paying by direct debit this can be left blank |
Direct Debit - Amount | Calculated value for the Interest Only direct debit including any recurring charges that are set up on the account If the account holder is not paying by direct debit this can be left blank |
| Direct Debit - Amount Column 2 | Calculated value for the Principal and Interest direct debit including any recurring charges that are set up on the account If the account holder is not paying by direct debit this can be left blank |
Annual Principal Interest Rate | Display Only New Interest Rate to be applied to the Principal Ledger - calculation is the latest rate on the interest profile adjusted by the Interest Rate Change % |
Annual Default Interest Rate | Display Only New Interest Rate to be applied to the Arrears Ledger - calculation is the latest rate on the interest profile adjusted by the Interest Rate Change % |
Dialog Specific Buttons
[Button] | Explanation |
Will display the Variable Loan Details dialog for the account displayed on the dialog | |
| On Save & Close the changes made on the dialog will be saved ready to be posted once all rate changes have been completed The status of the account will be changed to Ready to Post when the Save & Close option is selected | |
Will return you to the Interest Rate Change Notification Browse without saving any details entered on the dialog |
Related Articles
Variable Loan Interest Rate Change Notifications
Purpose To automate the process of creating interest rate change advice notices with updated calculated values. The system will: Generate a list of accounts affected by a rate change percentage Create communications advising the change of rate Allow ...Post Interest Rate Change Notification
Purpose To Post Future Rate Changes on Variable loans for both Future and Current ledger interest rate changes, create direct debit schedules and create communications to be sent to the account holder. Prerequisites A backup should always be taken ...Variable Loan Planned Rate Changes
Purpose To automate the process of changing interest rates and the resulting instalment amounts due or maturity dates on Variable Loan accounts with instalments. The system will: Generate a list of accounts affected by a rate change Calculate a new ...Create & Maintain Planned Interest Rate Changes
Purpose To post the Interest Profile or Interest Base Rate line and update the Maturity Date and/or the Instalment Amount Timing First business day following the Interest Rate effective date Access Variable Loan | Create & Maintain Planned Interest ...Generate Planned Rate Changes
Purpose To automate the process of changing interest rates and the resulting instalment amounts due or maturity dates on Variable Loan accounts with instalments. The system will: Generate a list of accounts affected by a rate change Calculate a new ...