Variable Rate: What does each option of the "Rate Change Frequency" drive?
(Doc ID 1377206.1)
Last updated on MARCH 28, 2019
Applies to:Oracle Lease and Finance Management - Version 12.1.2 and later
Information in this document applies to any platform.
When creating a Variable Rate Contract, in the interest Rate parameters, we need to associate a "Rate Change Frequency". The list of value provides various options like Monthly, Date of Calendar Month, etc. Need clarification on what each option of the "Rate Change Frequency" drives.
The issue can be reproduced at will with the following steps:
- Create a variable rate contract.
- Navigate to the Payments tab
- Under "Rate Summary", select the "Interest Rate Parameters"
- In the "Interest Rate Parameters", go to the "Rate Change Frequency" and click on the LOV
- The LOV lists the following options:
- Anniversary Date
- Billing Date
- Date of Calendar Month
- Date of Calendar Month and year
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document