finPOWER Connect Rate Tables Add-On

The finPOWER Connect Rate Tables Add-On provides additional Interest Rate flexibility, it allows Rates to change on a date and as the Account balance changes.

It can be used with Revolving Credit Loan Accounts and Deposit Accounts in this way.

finPOWER Connect Rate Tables Sdump

Rate Tables can be used in a number of ways:

  • Record a Base Interest Rate that changes over time.
    • The Account can define a premium to add or subtract from this Base Rate to form the actual Rate that is charged.
  • Interest Rates can vary according to the balance of the Account by using a "Tiered" rate.
    • For example, 10% up to $10,000 and 15% over this.