Navigation:  Interest Rates > Tiered Rates > Rate Review

The variable rates page sets out all the interest rate changes, but there are many situations where the rate changes are not instantly adopted on the day the rate changed.

 

Contractual terms or legislative rules may say, for instance, that the interest rate is only to be reviewed every six or twelve months.

 

Therefore Calin lets you enter all the variable rates, then choose the rate review timetable here. Every possibility is catered for here. In addition to various shortcut settings, you can manually enter the review dates if that is absolutely necessary.

 

Default (Always)

The interest rate changes to match the rate recorded from time to time.

 

Rates changes are always adopted immediately.

 

Keep initial rate

The interest rate is the rate that applied on the first day of the calculation period. It does not change.

 

Always use last rate

The interest rate is the rate that applied on the last day of the calculation period. It does not change.

 

Scheduled

The interest rate is the date that is recorded on the review dates that you specify on the next three pages.

 

USA Fed Post-J'mnt

Use the method prescribed for USA Federal Post-judgment interest.

 

The interest rate applicable on the Friday before the start date is used, then the rate is reviewed every 12 months from the start date.

 

Review January 1, July 1

The interest rate starts with the rate that applies on the first day of the calculation.

 

It is then reviewed at the end of each June and December, adopting from the next day (i.e. July 1 or January 1) the rate that applies as at that latter date.