How To Fix FVD_CLI_CLOAN005 - Rate &1 is not valid

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 005

• Message text: Rate &1 is not valid

What causes this issue?

The specified credit life insurance rate is not valid for this period.

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_CLOAN005 - Rate &1 is not valid ?

  The SAP error message FVD_CLI_CLOAN005 with the description "Rate &1 is not valid" typically occurs in the context of financial transactions, particularly when dealing with loans or financial instruments in the SAP system. This error indicates that the specified interest rate (denoted by &1) is not recognized or is invalid for the operation being performed.
  Causes:
  
  Incorrect Rate Entry: The rate entered may be incorrect, either due to a typo or because it does not exist in the system.
  Missing Rate Configuration: The interest rate may not be configured in the system for the specific loan type or financial product.
  Inactive Rate: The rate might be inactive or not valid for the date of the transaction.
  Rate Type Issues: The rate type associated with the transaction may not be set up correctly or may not match the expected type for the transaction.
  Date Validity: The rate may not be valid for the date range of the transaction.
  
  Solutions:
  
  Verify Rate Entry: Check the rate entered in the transaction for any typographical errors.
  Check Rate Configuration: Ensure that the interest rate is properly configured in the system. This can be done by navigating to the relevant configuration settings in SAP.
  Activate Rate: If the rate is inactive, you may need to activate it or create a new rate that is valid for the transaction.
  Review Rate Types: Ensure that the correct rate type is being used for the transaction. You may need to consult with your SAP administrator or financial team to confirm the correct settings.
  Check Validity Dates: Make sure that the rate is valid for the date of the transaction. If necessary, update the rate or adjust the transaction date.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on configuring and managing interest rates in your version of SAP.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like OB08 (for maintaining exchange rates) or FSP0 (for maintaining financial transaction settings) to check or update rates.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary permissions to view and modify financial rates in the system.
  Testing: After making changes, test the transaction again to ensure that the error has been resolved.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a technical consultant who can provide more in-depth assistance.