Article Details
Id:16755
Product:finPOWER Connect
Type:NEW
Version:3.03.00
Opened:21/02/2020
Closed:26/02/2020
Released:01/05/2020
Job: J023775

Comparison Rate; Account Type option added to define a future date that the Maximum Rate changes

A Loan Account Type can define a Comparison Rate with a specified Maximum Rate. A new option has been added to define the next date and rate to handle where the Maximum Rate is changing.

For example, if the current maximum rate is 50% and is changing to 48% on 1 June enter the Maximum Rate as 50% and the Next Max Rate and Date as 48% and 1 June.