Rates
Use the rate table to define variable interest rates by supplying a base index rate (which changes over time) and a margin percentage (which does not change over time).
These rates, which are the sum of the base index rate and the margin percentage, are used in the system and associated with a product.
When you select a rate type for a product, if the rate type is fixed, it is an interest rate that remains at a predetermined rate for the entire term of the loan, mortgage, and so on. If the rate type is variable, interest rates for the product may change periodically.