I am in deed to seek your suggestions on below requirement.
We have a requirement to configure the Loans (IT 0045), the scenario is as below.
The eligibility of loan on band wise as below and the rate of interest is 5% FLAT rate.
Band 1 15,000
Band 2 20,000
and if employee availed loan in band1 for Rs. 15,000 and if he promoted to band 2, then he is eligible for Rs. 5000 (20,000 - 15,000).
Could you please advise me how to meet the requirement and also please suggested me how to configure Flat interest rate ?
Thanks in Advance