How To Fix FVD_CLI_CLOAN006 - Term &1 months is too long for the rate &2

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 006

• Message text: Term &1 months is too long for the rate &2

What causes this issue?

The calculated term exceeds the term permitted by the credit life
insurance rate.

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_CLOAN006 - Term &1 months is too long for the rate &2 ?

  The SAP error message FVD_CLI_CLOAN006 indicates that the term specified for a loan or financial product is too long for the interest rate that has been defined. This typically occurs in the context of financial services within SAP, particularly in modules related to loans, credit, or financial contracts.
  Cause:
  
  Term Length Exceeds Limit: The term (in months) you are trying to set for the loan exceeds the maximum allowable term for the specified interest rate.
  Interest Rate Configuration: The interest rate may have been configured with specific limits regarding the terms it can be applied to. For example, certain rates may only be valid for short-term loans.
  Product Settings: The financial product or loan type you are using may have predefined settings that restrict the term length based on the interest rate.
  
  Solution:
  
  Check Term Length: Review the term you are trying to enter and ensure it is within the acceptable range for the specified interest rate.
  Review Interest Rate Configuration: Check the configuration of the interest rate in the system. You may need to adjust the term limits associated with that rate.
  Select a Different Interest Rate: If the term you need is valid but exceeds the limits of the current interest rate, consider selecting a different interest rate that accommodates the desired term.
  Consult Documentation: Refer to the SAP documentation or configuration guides for the specific financial product you are working with to understand the term limits associated with different interest rates.
  Contact SAP Support: If you are unable to resolve the issue through configuration changes, consider reaching out to SAP support for assistance.
  
  Related Information:
  
  Transaction Codes: You may need to use specific transaction codes to access the configuration settings for interest rates and loan terms, such as SPRO for configuration or FSP0 for financial services settings.
  Customizing Settings: If you have the necessary permissions, you can customize the settings in the SAP system to adjust the term limits for specific interest rates.
  Testing: After making any changes, ensure to test the configuration with various term lengths and interest rates to confirm that the error no longer occurs.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.