finPOWER Connect Fixed Term Floating Rate Loan Accounts Module

The Fixed Term Floating Rate Accounts Module provides core functionality to operate Loan Accounts with a Floating or Variable Interest Rate.

It has all the features and flexibility of the Fixed Term Loan Accounts module, but also includes the ability to change the Interest Rate during the term of the Loan. Interest Rate changes can trigger changes in repayment amounts or a variation in the Term, provide a grace period for the interest rate changes to take affect and publish Interest Rate Change notifications.

Where you need the flexibility of a Floating Interest Rate the Fixed Term Floating Rate Account Module is a must.