Cycle
Define how frequently interest is charged.
Interest List
Define a comma separated list of interest frequency options. You would define a list in conjunction with the 'Limit To List' flag to limit the Cycle selection.
Limit Interest cycle to List?
Check to limit the Interest Cycle selection to the list. Eg. if this is checked and the interest cycle frequency is not in the list it cannot be entered.
Available Types
Define which startup interest types are applicable. To have no startup interest select 'Not Applicable'.
| Type | |
|---|---|
| Not Applicable | Startup interest is not applicable and therefore will not be shown for selection in the New Account Wizard. |
| Interest Free | Zero interest is charged during the defined period. |
| Fixed Rate | Interest is at a Fixed Rate defined on the Account during Fixed Rate periods. |
| Floating Rate | An interest rate that is allowed to move up and down (Float) in relation to a base rate, to which a margin is added or subtracted. |
| Rate Table | To calculate Interest using a Rate Table on a daily basis. A premium can be defined for the account. |
Rate Table
Define the current Rate Table you wish to default on for new Accounts and the interest margin (if applicable).
Period
Optionally define a specific period for the Startup Interest period.
Period List
Optionally define a comma separated list of startup interest period options. This would be used un conjunction with the Limit To List to restrict the Start up period.
Limit Startup Interest period to List?
Check to limit the Interest Startup period selection to the list. Eg. if this is checked and the interest startup period is not in the list it cannot be entered.
Available Types
Define which interest types are applicable.
| Type | |
|---|---|
| Interest Free | Zero interest is charged during the defined period. |
| Fixed Rate | Interest is at a Fixed Rate defined on the Account during Fixed Rate periods. |
| Floating Rate | An interest rate that is allowed to move up and down (Float) in relation to a base rate, to which a margin is added or subtracted. |
| Rate Table | To calculate Interest using a Rate Table on a daily basis. A premium can be defined for the account. |
Interest Types
Define the interest type to default for new Accounts.
Interest Rate
Define the current Interest Rate you wish to default for new Accounts.
Rate Table
Define the current Rate Table you wish to default on for new Accounts and the interest margin (if applicable).
Other Type
Optionally define Other Interest Type to be used when calculating interest via a Script.
Other Rate
If using an Other Interest Type, define the Other Rate.