How To Fix FICO1061 - Entry of min./max. interest rate only possible with interest reference

FICO1061 - Overview

• Message type: E = Error

• Message class: FICO1 -

• Message number: 061

• Message text: Entry of min./max. interest rate only possible with interest reference

What causes this issue?

It is only useful to make an entry in the following fields if you have
entered an <DS:DE.FICO_OINTREF>interest reference</>:
<DS:DE.FICO_RINTMAX>Maximum interest </>
<DS:DE.FICO_RINTMIN>Minimum interest</>
<DS:DE.FICO_RINTMAXD>Minimum interest increase</>
<DS:DE.FICO_RINTMIND>Maximum interest reduction</>

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

This also applies for the <DS:DE.FICO_OINTREF_CUTB>calculation base
reduction</>.

System Response

How to fix this error?

Enter an interest reference or set the entry in the other fields to the
relevant default value:
Maximum interest: +999
Minimum interest: -999
Maximum interest increase and maximum interest reduction: 0

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FICO1061 - Entry of min./max. interest rate only possible with interest reference ?

  The SAP error message FICO1061, which states "Entry of min./max. interest rate only possible with interest reference," typically occurs in the context of financial transactions involving interest calculations, such as loans or investment products. This error indicates that the system requires an interest reference to be defined before you can enter minimum or maximum interest rates.
  
  Cause:
  The error is triggered when:
  
  You are trying to enter minimum or maximum interest rates in a financial transaction or configuration without having specified an interest reference.
  The system expects an interest reference (like a benchmark rate or a specific interest rate type) to be defined in order to validate the minimum and maximum interest rates.
  
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Define Interest Reference:
  
  Navigate to the relevant configuration or transaction where you are entering the interest rates.
  Ensure that you have defined an interest reference. This can typically be done in the configuration settings for interest