How To Fix FVD_MODEL028 - Error occurred when determining the effective interest rate

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_MODEL - Model Calculation for Consumer Loan

• Message number: 028

• Message text: Error occurred when determining the effective interest rate

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_MODEL028 - Error occurred when determining the effective interest rate ?

  The SAP error message FVD_MODEL028 indicates that there was an issue when the system attempted to determine the effective interest rate for a financial transaction or model. This error typically arises in the context of financial services, particularly in modules related to loans, mortgages, or other financial instruments where interest calculations are critical.
  Causes of FVD_MODEL028
  
  
  Missing Data: The effective interest rate calculation may require certain data that is missing or incomplete. This could include parameters like the loan amount, interest rate, payment frequency, or term.
  
  
  Incorrect Configuration: The configuration settings for the financial product or model may not be set up correctly. This could involve settings in the financial services module or specific product settings.
  
  
  Data Inconsistencies: There may be inconsistencies in the data entered into the system, such as mismatched dates, incorrect currency settings, or invalid entries.
  
  
  System Bugs: Occasionally, this error can be caused by bugs or issues within the SAP system itself, particularly if you are using an older version or if there have been recent updates.
  
  
  User Authorization: Lack of proper authorization to access certain data or perform specific calculations can also lead to this error.
  
  
  Solutions for FVD_MODEL028
  
  
  Check Data Completeness: Ensure that all required fields for the effective interest rate calculation are filled out correctly. Review the transaction or model data for completeness.
  
  
  Review Configuration Settings: Verify that the configuration for the financial product is correct. This includes checking the settings for interest rates, payment terms, and any other relevant parameters.
  
  
  Data Validation: Conduct a thorough validation of the data entered into the system. Look for any inconsistencies or errors that could affect the calculation.
  
  
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on the effective interest rate calculation and any prerequisites that must be met.
  
  
  Check for System Updates: If the issue persists, check if there are any patches or updates available for your SAP system that address known bugs related to this error.
  
  
  User Permissions: Ensure that the user has the necessary permissions to perform the calculations and access the required data.
  
  
  Contact SAP Support: If none of the above solutions resolve the issue, consider reaching out to SAP support for further assistance. They may provide insights specific to your system configuration or version.
  
  
  Related Information
  
  
  Effective Interest Rate (EIR): This is a calculation used to determine the true cost of borrowing, taking into account the effects of compounding over time. It is crucial for financial reporting and compliance.
  
  
  SAP Financial Services: This module includes various functionalities for managing financial products, including loans, mortgages, and investment products.
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP that may help in troubleshooting or reviewing financial models (e.g., FVD1, FVD2 for financial services).
  
  
  By following these steps, you should be able to identify the root cause of the FVD_MODEL028 error and implement a suitable solution.