The Interest Plan feature allows you to set up interest schedules that may be used on loans and on blocks of loans. If the interest plan is modified, the change to the interest set-up is reflected on all of the loans that are part of that interest plan.
Interest plans are configured in Setup > Loan Setup > Interest Plan.
To add a new Interest Plan, click . Enter a name and description for the Interest Plan, and click OK.
Once the Interest Plan has been added, it must be configured similarly to any interest entry on a loan, or on a template.