Interest

The Interest page enables you to manage and customize the interest settings for various account types and products. This section assists in establishing and monitoring interest rates, compounding periods, and other relevant features for loans, deposits, and other financial products.

Access The Interest Page

1. Log into the application using your credentials.

2. From the dashboard, navigate to Accounts in the side menu.

3. Select Interests from the dropdown list.

Create A New Interest

Here's how to create a new interest:

1. Click on the “Add” button at the top of the page.

2. Fill in the Create New Interest form fields:

   • Interest Name: Enter a descriptive name for the interest rate.

   • Type of Interest: Select the appropriate interest type (e.g., Credit or Debit based).

   • Default Rate (%): Enter the default interest rate.

   • Apply Withholding Tax?: Toggle the switch button to indicate whether withholding tax should be applied to the interest.

3. Once you’ve filled in all the necessary fields, click “Save” to apply.

4. Confirm the action by selecting “Yes, I want to proceed.”

Once a new interest has been created, it must be activated in order to reflect in the CBA system.

Modify An Interest

Here's how to modify an Interest below:

1. In the Actions column, click the three vertical dots (⋮).

2. Select Modify from the dropdown menu.

3. Update the necessary overdraft Fee details.

4. Click Update to save and apply the changes.

5. Confirm the action by selecting “Yes, I want to proceed.”

Activate/Deactivate An Interest:

To activate/deactivate an existing Interest:

1. In the Actions column, click the three vertical dots (⋮) next to the Interest you wish to deactivate.

2. Select Deactivate from the dropdown menu.

3. Confirm the action by selecting “Yes, I want to proceed.”