Create loan account – Floating rate
To create a loan account application for a client

To create a loan account application for a client, select the client by searching the desired client from Global Search. Click the General tab.

1. On the Client page, Click +New Loan on the bright blue action bar.
2. Select the loan product to base the loan account on from the product list.
3. Complete the loan account fields, making any modifications from the default that are permitted and applicable to the loan application.
4. Update required fields –
   a) Interest rate differential – Provide interest rate here. 
   b) Is Floating Rate – Check the check box to enable floating interest rate. 
                                    – If unchecked, the disbursement interest rate will be applied and will remain same throughout the installment.