Reschedule Options on Interest Rate Change

For amortization based loans, flexible amortization based loans and loans with repayment procedure of Equated Principal, you can customize the effect of an interest rate change on the loan contract. For more information on each interest rate change method, refer to section Creating a Simple Loan Product.

If you are upgrading from an earlier version of CL Loan, you must add the picklist field Interest Rate Change Method to:

• The Amortization Based Loan Product and  Loan Product Layout of the Lending Product object.
• The Amortization Based Loan Layout and Loan Account Layout of the CL Contract object:

For steps to do this, refer to section Modify the Page Layout.

Recommended layout

Lending Product

CL Contract