Rate Tables are used to pre-program Interest Rate changes when opening a new Revolving Credit Account or when changing the Interest Rate of an existing Revolving Credit Account.
A Rate Table can program Rate changes spread over a period of time, e.g. 6 months at 0% followed by 12.5% for the remainder of the first year, then 15% for the rest of the life of the loan.
Or Interest Rates can vary according to the balance of the Account by using a "Tiered" rate, e.g. 10% up to $10,000 and 15% up to $20,000.
Or a Rate Table could include a combination of both, with Tiered rates for different periods in the loan's life.
Once you have created a Rate Table, use it by selecting that Rate Table as available as a Startup or Standard Interest Rate in the Rate Tables page of an Account Type.