My Oracle Support Banner

Variable Interest Rate Type Is Not Working In Loans (Doc ID 2162014.1)

Last updated on FEBRUARY 20, 2019

Applies to:

Oracle Loans - Version 12.2.4 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
On : 12.2.4 version, Loan Information
In Loans Agent Responsibility, the Variable Interest Rate Type is not working.

EXPECTED BEHAVIOR
---------------
Expect that whenever there is a change in Interest Rate, the new rate is used to calculate Interest due on Loans and the Amortization schedule is updated accordingly.

STEPS
---------------
Responsibility: Loans Agent
Navigation:
1. Create A Loan with below details
Loan Amount : 5000 USD
Loan Start Date : 1-Jan-16
Interest Index: INTX
Interest Rate on 1-Jan-16 as per INTX: 5%
Billing : Last day of every month with Principal + Interest (Using Equal Payment Option)

2. Notice that the amortization schedule not updating with new interest rates from INTX Index.



Cause

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
Symptoms
Cause
Solution
 1. Bug Summary
 2. Fixed Files
 3. Recommended Patches
 4. Solution Steps
References


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.