How To Fix FVD_CLI_CLOAN002 - Rate &1 is not valid for the period

FVD_CLI_CLOAN002 - Overview

• Message type: E = Error

• Message class: FVD_CLI_CLOAN - Credit Life Insurance for Consumer Loan

• Message number: 002

• Message text: Rate &1 is not valid for the period

What causes this issue?

The credit life insurance rate is not valid for the overall term of the
contract.

System Response

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

How to fix this error?

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 FVD_CLI_CLOAN002 - Rate &1 is not valid for the period ?

  The SAP error message FVD_CLI_CLOAN002 indicates that the interest rate specified (denoted as &1 in the message) is not valid for the period in question. This error typically arises in the context of financial transactions, particularly in loan management or financial services modules within SAP.
  
  Cause:
  
  Invalid Rate Configuration: The interest rate may not be configured correctly in the system for the specified period. This could be due to missing entries in the interest rate table or incorrect date ranges.
  Rate Expiry: The interest rate might have expired or is not yet effective for the period being processed.
  Incorrect Period: The transaction might be referencing a period that does not align with the valid periods for the interest rate.
  Data Entry Error: There could be a typographical error in the rate being entered or referenced.
  
  
  Solution:
  
  
  Check Interest Rate Configuration:
  
  Navigate to the interest rate configuration in SAP (usually found in the Financial Services or Loan Management module).
  Verify