PERIODIC.INTEREST

Hi, Can anyone help me, I want to know about PERIODIC.INTEREST table, What is it used for?, How can configure it?

Thanks

Hi, PERIODIC.INTEREST table используется для начисления процентных ставок по депозитам.

Hi

The Periodic Interest used to set for Loan Products, for setting a interest based on the period. Ex:

If you want to set a interest for
0-2 days - 2%
2 - 14 days - 2.5%
15 - 90 days - 3%
90- 6 months - 4%
6months - 5 years - 5% like that so on and on

based on this slab you can set the interest for the contract.

To default this interest rate automatically based on the key
there is a field PI default field in LD module, if you set to "Y" then the Periodic Interest for the first period will be default automatically.

Hope this will clarify your question

Regards
R Balaguru

Hi,
This table is meant for booking
1) Floating interest rates on LD contracts – Applicable for both Loans and Deposits. Used to perform automatic rollover.
2) Interest rate on Forward Contracts (Foreign Exchange)

The Id of this table is designed as Key-Currency-yyyymmdd - eg. 03 USD 20090318.

LIBOR/EURIBOR/MIBOR is being quoted for both deposits and commercial loans. These are being quoted for
1) Each currency (USD, GBP, YEN…)
2) For different time periods (days, months, year- 30D, 360M, 99Y)
3) For different amount bands ( 100,000, 500,000 , Rest- blank)
These are defined in this table. For each of above we may define Bid rate (deposit interest rate) and Offer rate (loan interest rate). General principle is that Bid rate will always be less than Offer Rate.
BASIC.INTEREST PERIODIC.INTEREST
Interest.Rate.Type 3.Floating 2.Periodic Automatic
Interest rate Blank Blank
Interest.Key Defined BASIC.RATE.TEXT Defined in the ID itself
Interest spread(for basic.interest) Int.key will fetch the interest rate and the spread quoted in this field will be added to that
Interest spread(for periodic.interest) Interest defined in Bid or Offer will be added with the spread if required.
Whenever a backvalued key in PERIODIC.INTEREST is changed, the ID of such key is stored in an internal file called PERIODIC.RATE.CHANGE.
This table enables the user to charge interest automatically periodically whenever rates are changed.

regards,
murugan