What is rate change date in SAP (FS-CML - Loans Management)?

SAP Term: rate change date

• Component: FS-CML

• Component Name: Loans Management

• Description: Date on which a new interest rate is determined for a loan.

Smart SAP Assistant

• Key Concepts: 
  Rate Change Date is a field in the FS-CML Loans Management component of SAP. It is used to indicate when the interest rate of a loan changes. This field is important for tracking the changes in interest rates over time and ensuring that the correct rate is applied to each loan.
  
  How to use it: 
  The Rate Change Date field can be found in the Loan Details section of the FS-CML Loans Management component. To enter a new rate change date, simply select the date from the drop-down menu and click “Save”. The new rate change date will be applied to all loans with that date or later. 
  
  Tips & Tricks: 
  It is important to keep track of rate change dates in order to ensure that the correct interest rate is applied to each loan. It is also important to note that any changes made to the rate change date will not be applied retroactively, so it is important to update this field regularly. 
  
  Related Information: 
  For more information on how to use the Rate Change Date field in FS-CML Loans Management, please refer to SAP’s official documentation. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to use this feature.