Floating Rate Setup

You must use the Mbanq Admin Console to create a Floating Rate for credit and loan products. When you create a new Floating Rate, you will be required to supply a number of attributes.

Key Features:

The Mbanq platform is designed to support NeoBanks and fintech companies in their go-to-market strategies by providing essential functionality and benefits. With our credit and lending system, you can offer your customers Floating Rate credit and loan products. Loan products can be easily configured in the Mbanq Admin Console.

Settings

• You have to create a unique name for your Floating Rate
• You may select that it is the base lending rate
• You can then add any number of Floating Rates that are configured as follows:
  • The Start Date for the rate. (We assumes it stays in effect until a newer floating rate is started.) Note, date cannot be on the current date nor back-dated, it should be future date.
  • Specify the Interest Rate
  • Select if it is a Differential or Offset Rate