Strategic Asset Management > Setup > Base > Base interest rate for payment schedule

The purpose of this form is to enables you to create and maintain the base prime lending interest rates used for lease contracts to do calculations for the payment schedule.

Tasks that use this form

Create/delete the base interest rates

Batch process : Adjustment of base interest rate on contracts

Navigating the form

To create a new record press CTRL+N or the new button. The following tables provide descriptions for the controls in this form:

Buttons

Control name

Description

New

Create a new base interest rate record.

Delete

Delete a base interest rate record.

Adjustment payment schedule interest rate

This defines the batch process that will be executed for updating of all contract payment schedules with calculation of type = Compound interest.

Fields

Field name

Field description

From date

This field defines the start date from when this interest rate was set as the valid and current date for the interest rate.

To date

This field defines the date when this interest rate was changed.

Interest rate

This defines the base lending interest rate for the organisation that will be used to work from when calculating the payment schedule transactions for customers.