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Function documentationLoans: Interest and Payments

 

You use the Interest and Payments set types (CRM_PROD_FS003) to define settings for interest calculation and loan disbursement.

Features

  • When you maintain a financial service product (FS product) you enter the following settings for interest and payments:

    • Effective interest calculation clearing frequency

    • Effective Interest Method

      Note Note

      If you want to use the effective interest method according to Moosmüller or the US Treasury, the system needs the effective interest clearing frequency as a value for calculations.

      End of the note.

    • Maximum number of partial payments rules

    • Minimum period in which no loan repayment is made

    • Maximum period in which no loan repayment is made

  • When you use the FS product in a business transaction, the system transfers the settings for interest and payment.

    You cannot change these settings in the business transaction in the standard system.