How to add interest rates

Summary

Add the interest rates your loan and savings products point to, with the period and calculation each rate uses.

About 3 minutes · 6 steps. Also called: interest rate, rate setup, loan interest, savings interest, rate configuration.

Prerequisites

• A CAMS sign-in whose role can open Settings.
• The rate figures, period and calculation method you want to apply.

Step-by-step

1. Sign in to CAMS Admin.
2. In the left menu, click Settings, then Products. The Product Setup tabs appear across the top.
3. Click the Interest Rate tab. You see every rate your products can point to.

1. Search the list before adding, so one rate does not end up twice under two names.
2. Click Add new. Type the rate name and values, then fill in the period and calculation fields.
3. Save. The rate shows in the Interest Rate list, and products can now reference it.

Warning: Every product using a rate follows the new figure the moment you change it. Edit a live rate with care and check the linked products afterwards.

Common pitfalls & FAQ

• The rate I want is missing when I build a product. Create the rate here first, then build the product that uses it.
• Do savings products use these rates too? Yes. Loan and savings products reference the same list, so name each rate after its purpose.
• Which rate does a product follow? The one picked on the product's own form — see How to configure savings and share products.