Field

Description

Promotional Rate

Mnemonic: NLRATE

This field displays the interest rate used to calculate Accrued Interest (and Finance Charges) for the selected promotion. This field will not change unless the promotion is rate sensitive, meaning the promotion is linked to variable rates and a rate table (see Variable Rates and Rate Pointer below).

Promotion Accrual Rate

Mnemonic: N/A

This field displays the rate at which for the selected promotion is currently accruing on the customer loan account.

Promotion Per Diem

Mnemonic: N/A

This field displays the daily interest amount accrued by the selected promotion on the customer loan account.

Current Finance Charge

Mnemonic: NLRLCC

This field displays the amount of interest billed on the Date of Last Billing for the selected promotion on the customer loan account. Each time interest is billed, any unpaid interest remaining in this field is added to the Prior Finance Charge field.

The sum of finance charges on the promotion appears in the Total Finance Charge Billed field.

This field is calculated by taking the current loan balance and multiplying it by Annual Percentage Rate and the days from the Date Last Accrued to the date of the activity (balance change, payment, or end of billing cycle), then dividing that by 365. the either the current loan balance or actual balance, then dividing that amount by either 365 or 366 (depending on the

Prior Finance Charge

Mnemonic: NLRLPC

This field displays the sum of all finance charges owed before the most recent billing period for the selected promotion on the customer loan account. The sum of finance charges on the promotion appears in the Total Finance Charge Billed field.

Current Uncollected Interest

Mnemonic: NLCUCI

This field displays the amount of interest for the selected promotion that was deferred from the previous billing cycle on the customer loan account.

Prior Uncollected Interest

Mnemonic: NLPUCI

This field indicates the potential finance charge amount if the loan is not paid off by the time the promotion reaches the Promotion Period Expiration Date.

This field contains a running total of all the potential accrued interest since the start of the promotion period. This amount does not include the Current Uncollected Interest from the Date Last Accrued to today's date. That amount is displayed in the Current Uncollected Interest field above.

This amount will move to the Current Finance Charge field in the afterhours of the Promotion Period Expiration Date.

Date Last Accrued

Mnemonic: NLDTAC

This field displays the date the system last accrued interest for the selected promotion. This date is updated at the end of the billing cycle, or any time the promotional line-of-credit is updated with an interest rate change, balance change, or payment. The Accrued Interest (below) will be cleared in the afterhours of the Next Billing Date, and the amount that was in the Accrued Interest will move to another field, as explained below.

Accrued Interest

Mnemonic: NLACIN

This field displays the total amount of interest accrued on the selected promotion since the last billing cycle. It is also updated any time an interest rate changes, a payment is made, or the balance changes.

In the afterhours of the Next Billing Date, the amount in this field moves to either the Current Finance Charge or the Current Uncollected Interest, as follows:

•If the loan is still in the promotional period (the Promotion Period Expiration Date is in the future), the amount in Accrued Interest will move to the amount in the Current Uncollected Interest field. If there is already an amount in the Current Uncollected Interest field when the Accrued Interest moves to there, that amount will be added to the existing amount in the Prior Uncollected Interest field.
 
In the afterhours of the Promotion Period Expiration Date, the total amount in the Prior Uncollected Interest field moves to the Prior Finance Charge field.

•If the loan is past the promotional period (the Promotion Period Expiration Date is in the past), the amount in Accrued Interest will be added to the amount in the Current Finance Charge field. This amount will be part of the minimum loan payment due. If the payment is made before the next billing cycle, then this amount is cleared. However, if it is not, or only a portion is cleared, this amount is added to the amount in the Prior Finance Charge field at the time of the Next Billing Date.
 
The combination of the Current Finance Charge and Prior Finance Charge amounts total the amount of finance charges due in for this promotional line-of-credit for the next billing cycle.

The Pr

Variable Rates

Mnemonic: NLVRTE

Use this field to indicate whether the selected promotion has variable interest rates on the customer loan account.

Rate Pointer

Mnemonic: NLRPTR

Use this field to indicate the rate pointer to use on the selected promotion on the customer loan account, if the promotion is Variable. Rate pointers must first be set up on the Loans > System Setup Screens > Interest Rate Table screen before they can be selected in this field.

Last Index

Mnemonic: NLAPIN

This field displays the index value of the selected promotion, if the promotion is rate-sensitive on the customer loan account. This value depends on the selected Rate Pointer.

Offset Margin

Mnemonic: NLROFF

Use this field to indicate the percentage used in conjunction with the Last Index to calculate the Standard Rate for the selected promotion on the customer loan account.