Configure the interest method change

To make the intended change to the account type interest method, follow the steps below.

1. Go to Accounts > Pricing > Account type interest.

2. Fill in the search parameters and click Search.

1. The following list contains the main interest settings that must be left unchanged on the New account type interest method page.

   • Method assignment code,

   • Account type,

   • Currency,

   • Account holder type.

2. Adjust the following main interest settings on the New account type interest method page.

   • Select Floating interest rate for the value of Rate type,

   • Select Fixed percentage that is subtracted from the base rate margin type for the value of Margin type,

   • Enter the Validity start date,

   • Select All accounts for the value of Accounts to which the interest applies and

   • Standard conditions for the value of Reason.
3. Select the Rate base value and enter the following interest conditions parameters.

   • Select the Rate base value,

   • Set the Default margin rate value to 40%,

   • Set the Min margin rate value to 20%,

   • Set the Max margin rate value to 60%.

4. Click the Create new account type interest button and the Yes button in the confirmation modal.

Approve the interest method change

Click the Approve method button to approve the method change.

Interest action history

To follow the progress of the interest condition change process, click on the Interest action history link at the top of the content page.

The click opens the modal, and you can view the complete history of interest actions.

Before the interest method change date, you will notice the new Interest method created with ID-000000001021. The Application rule set for All accounts plays a pivotal role here, as it initiates the Mass change with ID-000000001014. The Status code is marked as INSERTED, and the Completed date-time is left blank, indicating that the change is yet to occur.

Once the interest method change date has passed, the mass change Status code becomes PROCESSED, and the Completed date-time displays the exact moment when the actual method change occurred.