Pricing Scheme Function - Fields Description

At this function, user will come across various fields or columns that needs to be maintained with relevant data.

The descriptions of the respective field or column, are as follows:-

Pricing Scheme List (Panel)

<Pricing Schemes Search> (Sub-Panel)

Price Code

This is the unique code of the respective pricing scheme for credit facilities.

Price Description

This is the name of the respective pricing scheme for credit facilities.

Product Line

This is the group of products under a module, e.g., for module = 'LN - Financing', there can be many product lines, e.g., 'PL - Personal Loan' and 'TL - Term Loan'.

However, presently only the 'PL' Personal Loan' option is available.

<Pricing Schemes> (Sub-Panel)

Price Code

This is the unique code of the respective pricing scheme for credit facilities.

Price Description

This is the name of the respective pricing scheme for credit facilities.

Ccy

This is the currency code of the respective pricing scheme for credit facilities, e.g., MYR.

Product Line

This is the group of products under a module, e.g., for module = 'LN - Financing', there can be many product lines, e.g., 'PL - Personal Loan' and 'TL - Term Loan'.

However, presently only the 'PL' Personal Loan' option is available.

Effective Date

This is the date that the pricing scheme will be made available to be tagged to other functions or parameters for use.

Expiry Date

This is the date after, that the pricing scheme can no longer be used.

  • This panel will be displayed, after the function screen has opened.

  • The purposes of this panel, are as follows:-

    • Access point to view the existing list of pricing schemes, created earlier

    • Access point to view the details of each selected pricing scheme, created earlier

    • Access point to create pricing scheme

    • Access point to remove the pricing scheme that has not been tagged to any products.
Pricing Details (Panel)

<Pricing Scheme Main Details> (Sub-Panel)

Price Code

This is the unique code of the respective pricing scheme for credit facilities.

Price Description

This is the name of the respective pricing scheme for credit facilities.

Ccy

This is the currency code and description of the respective pricing scheme for credit facilities, e.g., MYR - Malaysian Ringgit.

Banking Concept

This is the type of concept that has been practiced in the bank or financial institution, to be associated with the respective pricing scheme.

Presently only the 'C - Conventional' option is available.

Product Line

This is the group of products under a module, e.g., for module = 'LN - Financing', there can be many product lines, e.g., 'PL - Personal Loan' and 'TL - Term Loan'.

However, presently only the 'PL' Personal Loan' option is available.

Effective Date

This is the date that the pricing scheme will be made available to be tagged to other functions or parameters for use.

Note:

  • The effective date value cannot be later than expiry date value.

  • The effective date can be present or future date.

Expiry Date

This is the date after, that the pricing scheme can no longer be used.

Note:

  • The expiry date value cannot be earlier than effective date value.

  • The expiry date can be present or future date, however cannot be of the same value as the effective date value.

  • By leaving this field blank, it will indicate to system that a particular pricing scheme has no expiry date.

Margin Type

This is the type of marginal (spread) rate.

Presently, only the 'A - Absolute' option is available.

For example: Marginal rate below (in absolute value)

Rate : 5.00 Margin Rate : -1.00 Total Rate : 5.00+ (-1.00) = 4.00

Note: For a negative value, input a minus sign before typing out the number.

Pricing Type

This is the manner that pricing rate will be charged.

The available options, are as follows:-

  • F - Single Tier

  • M - Tier (Hit) By Period

Revision Option

This is to indicate the manner that the pricing rate can be changed in the respective pricing scheme.

Presently, the only option that can be selected is the 'F - Fixed' (which means interest rate cannot be revised) option.

Create Pricing By

This is the pricing tier method to be applied in the respective pricing scheme for input on the related pricing rate(s).

Presently, the only option that can be selected is the 'G - By Grace/Commenced Period' option.

Note: Normally for credit facilities that possibly have grace periods before the commencement installment payment, this 'By Grace/ Commence Period' option will be applied. For credit facilities that have no grace periods, the grace period tier’s value will skipped in the computation of the interest rate amount. Therefore, this option has the advantage as it can be applied for cases with or without grace periods.

Pricing Tier Details (Sub-panel)

Type

This is the respective tier’s type to be inputted or displayed with the related pricing rate details for the pricing scheme that is applying the 'G - By Grace/Commenced Period' pricing tier method.

The options, are as follows:-

  • G - Grace

  • N - Normal

From Period

This is the starting period in a pricing rate tier, e.g., 1.

Note:

  • For the 'F - Single Tier' pricing type, the default column value is 1.

  • For the 'M - Tier (Hit) By Period' period type, the default value is 1 for the first tier. For the subsequent tier, the default value will be the next period, following the previous tier’s 'To Period' field value.

To Period

This is the ending period in a pricing rate tier, e.g., 12.

Note:

  • For the 'F - Single Tier' pricing type, the default column value is 9,999.

  • For the 'M - Tier (Hit) By Period' period type, the value inputted into this column for the first tier, will determine the 'From Period' column for the Second tier, and similarly for the rest of the tiers.

Rate Code

This is the financing or interest rate code to be applied on the respective pricing tier.

Note: Relevant financing or interest rate codes can be pre-maintained at the 'Financing Rate Code' function.

Rate

This is the value of the financing or interest rate associated with the value selected at the 'Rate Code' column.

Margin

This is the marginal rate (spread) above or below the 'Rate' column value in the respective pricing tier.

Total Rate

This is the total interest rates taking into consideration the value from the 'Rate' column and 'Margin' column of the respective pricing tier.

Formula:

Total Rate = Rate + Margin Rate

  • This panel will be displayed, as follows:-

    • Clicked once on the CreateNewRecord button.

    • Clicked once on the Details icon of a pricing scheme.

  • The purpose of this panel, are as follows:-

    • To maintain the main details for the respective pricing scheme.

    • Access point to define or maintain the pricing rate(s) for the respective pricing scheme.

    • To view the details of each selected pricing scheme.
<Pricing Rate> (Pop-Up Window)

Type

This is the respective tier’s type to be inputted or displayed with the related pricing rate details for the pricing scheme that is applying the 'G - By Grace/Commenced Period' pricing tier method.

The options, are as follows:-

  • G - Grace

  • N - Normal

Margin Type

This is the type of the marginal (spread) rate to be applied or is being applied at the respective pricing tier.

Presently, the only available option is the 'A - Absolute' option.

For example: Marginal rate below (in absolute value)

  • Rate : 5.00

  • Margin Rate : -1.00

  • Total Rate : 5.00+ (-1.00) = 4.00

From Period

This is the starting period in a pricing rate tier, e.g., 1.

Note:

  • For the 'F - Single Tier' pricing type, the default column value is 1.

  • For the 'M - Tier (Hit) By Period' period type, the default value is 1 for the first tier. For the subsequent tier, the default value will be the next period, following the previous tier’s 'To Period' field value.

  • Negative value is not allow in this field.

  • The value that can be inputted in this field cannot be greater than the value inputted at the 'To Period' field. Otherwise, system will prompt an error message.

To Period

This is the ending period in a pricing rate tier, e.g., 12.

Note:

  • For the 'F - Single Tier' pricing type, the default column value is 9,999.

  • For the 'M - Tier (Hit) By Period' period type, the value inputted into this column for the first tier, will determine the 'From Period' column for the Second tier, and similarly for the rest of the tiers. The maximum value that user can input into this field is ‘9999’.

  • Negative value is not allow in this field.

  • The value that user can inputted into this column cannot be less than the value inputted at the 'From Period' field. Otherwise, system will prompt an error message.

Rate Code

This is the financing or interest rate code to be applied on the respective pricing tier.

Note: Relevant financing or interest rate codes can be pre-maintained at the 'Financing Rate Code' function.

Rate

This is the value of the financing or interest rate associated with the value selected at the 'Rate Code' column.

Margin

This is the marginal rate (spread) above or below the 'Rate' column value in the respective pricing tier.

Note: If not applicable, please key in '0.00000' as the value into this field.

(For example 1: Marginal rate below)

Rate : 5.00000 Margin Rate : -1.0000

Total Rate : 5.00000+ (-1.00000) = 4.00000

(For example 2: Marginal rate above)

Rate : 5.00000 Margin Rate : 1.0000

Total Rate : 5.00000+ (1.00000) = 6.00000

Total Rate

This is the total interest rates taking into consideration the value from the 'Rate' field and 'Margin' field of the respective pricing tier.

Formula:

Total Rate = Rate + Margin Rate

  • This window will be displayed, after users has done one of the followings:-

    • Clicked once on the Add button at 'Pricing Tier Details' sub-panel for new pricing scheme.

    • Clicked once on the Details icon, of a pricing tier record at the 'Pricing Tier Details' sub-panel for an existing pricing scheme.

  • The purposes of this window, are as follows:-

    • To maintain the pricing rate details of the respective pricing tier, required in each pricing scheme.

    • Access point to view the details of the respective pricing tier, in each pricing scheme.