Planned Rate Change Details
Purpose
Allows
the adjustment of an Instalment amount and/or Maturity Date for a client
account that is subject to a planned interest rate change
Timing
Will
be used between the generation and posting of rate changes
Access
- Location | location
Dialog Details
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Details Specific Fields
Field | Explanation |
Interest Profile Code | Display only field Code of the Future Interest Profile currently selected to the account |
Current Rate | Display only field Future Interest Rate currently applied to the account |
New Rate | Display only field New interest rate that will be applied to the account |
Future Balance | Display only field Account future balance |
Current Instalment | Display only field Current instalment amount for the account |
New Instalment | Update if the Control Record Default Action = Instalment Calculated New Instalment amount that will be required to pay off the loan up to the current maturity date |
Current Maturity Date | Display only field Current maturity date on the account |
New Maturity Date | Updated if the Control Record Default Action = Maturity Date Calculated new maturity date if the loan instalment amount remains unchanged |
Comment | Free text field to add comments for any changes made |
| Ready to Post | Checked on by default Indicates that the rat change may be posted after the effective date Check off if the rate change should not be posted |
Details Specific Buttons
| [Button] | Explanation |
Used when the New Instalment field has been changed Will recalculate the
loan maturity date based on the new Instalment Amount entered | |
Used when the
New Maturity Date field value is changed Will recalculate the Instalment amount to
required payment for the loan to end on the maturity date entered |
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