Variable Interest Rate Type Is Not Working In Loans
(Doc ID 2162014.1)
Last updated on FEBRUARY 20, 2019
Oracle Loans - Version 12.2.4 and later Information in this document applies to any platform.
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.
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