setup maximum interest for LD contract

  • bingo82vn
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12 years 4 days ago #12088 by bingo82vn
setup maximum interest for LD contract was created by bingo82vn
I want to setup max interest rates for all contract LD, help me for this problem, thanks

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  • armin
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12 years 4 days ago #12094 by armin
Replied by armin on topic setup maximum interest for LD contract
Create a validation routine and attach it to LD using VERSION.CONTRAL (set field NON.VERSION.RUN to Y to trigger it also when using application itself).

See UserGuide "Application Program Interface" on how to create such a routine.

using R11 on Unix

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12 years 4 days ago #12095 by bingo82vn
Replied by bingo82vn on topic setup maximum interest for LD contract
Thank you for the support,there is a solution. you can give yourself more about set value for Max Int legal rate(F62) in LMM.INSTALL.CONDS table

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12 years 4 days ago #12100 by durai611
Replied by durai611 on topic setup maximum interest for LD contract
I believe the value given here is only for information purpose and not used anywhere in the contract.

As armin suggested you can default the interest rate from this field by using VERSION routines.

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12 years 4 days ago #12101 by armin
Replied by armin on topic setup maximum interest for LD contract
MAX.LEGAL.INT.RATE
==================
Specifies a maximum interest rate for information purposes only.

In certain countries maximum legal interest rates may be set. This field allows the user to insert such a maximum rate into the system but it is not used in any processing; it is for information purposes only.

Set this value and use it in your routine, better than hardcoding it and free to have different values per company :-)

using R11 on Unix

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11 years 11 months ago #12231 by ragupathir
Replied by ragupathir on topic setup maximum interest for LD contract
In the table LD.TXN.TYPE.CONDITION, you can define the interest rate for each category as a default.

But for requirement to set maximum rate, it is possible to raise the override for maximum rate using the field MAX.INT.RATE in the PERIODIC.INTEREST table for the PERIODIC AUTOMATIC type.

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