Transaction setup

In this section of credit product creation, you can configure different interest conditions for transaction types.

The transaction types without applied interest conditions do not accrue any interest.

Click Add and enter the following parameters:

Field name	Type	Description
Transaction type*	List	Select the transaction types from the drop-down menu. The interest conditions you have defined for the credit product will be applicable to the transaction types that you select here.
Grace type*	List	Select one of the following options: Fixed period - Fixed number of days from the transaction date. Payday - Until the next repayment date. Infinite grace period
Grace days	Number	Enter the number of days after the payment due date has passed when the interest will be applied. Note: this field is only displayed if you select Fixed period as the Grace type.
Interest type	List	Select one of the following options: Interest on purchase, Interest on cash withdrawals, Interest on amount over limit, Interest on instalment plan termination, Interest. Note: this field is not displayed if you select Infinite grace period as the Grace type.

Click Add to add more types. Click the cross icon to remove conditions.