# Set and remove interest rates

The interest rate tools let you add a new interest rate to a loan or remove an existing rate. Setting a rate with a past effective date causes the system to recalculate interest and reapply payments and credits from that date forward. Removing a rate replays the loan using the remaining rates.

**Availability:** All clients
**Required permissions:** `rates:create` (to set); `rates:delete` (to remove)
**Loan status:** `active`
**Loan types:** All

## Before you begin

- Setting an interest rate with a past effective date triggers an account replay that can take several minutes.
- For Line of Credit loans, you can apply the rate to the line of credit only, to the line and all draws, or to a specific draw.
- If two rates overlap on the same dates, the system uses the lower rate.
- Rates labeled "At origination" were set at loan creation and cannot be removed.


## Set an interest rate

1. From the agent-view Borrower Portal, open the loan and select **Loan options** > **Set interest rate**.
2. For Line of Credit loans, select the scope from the **Applicable to** dropdown. See [Global behaviors — Applicable-to selector](/servicing-operations/agent-only-tools/agent-tools-overview#applicable-to-selector).
3. Enter the **New rate (annual)** as a percentage.
4. Select a **Start date** for the rate. The date can be in the past, today, or in the future.
5. Optionally select an **End date**, or choose **End of loan** to apply the rate indefinitely. The end date must be after the start date.
6. Optionally select **End existing rates** to update any rates without an end date so they end one day before the new rate's start date.
7. If your company requires a Case ID, select a case from the **Case ID** dropdown. See [Global behaviors — Case ID requirement](/servicing-operations/agent-only-tools/agent-tools-overview#case-id-requirement).
8. Select **Set interest rate**.


The new rate takes effect at the start date. If the start date is in the past, the system replays the loan from that date.

### Set interest rate field reference

| Field | Description | Required | Values / Format |
|  --- | --- | --- | --- |
| **Applicable to** | Whether the rate applies to the line of credit, all draws, or a specific draw. Only shown for LOC loans. | Conditional | Select: Line of credit and draws, Line of credit only, or a specific draw |
| **New rate (annual)** | The annual interest rate as a percentage. | Yes | Number (percentage) |
| **Start date** | The date the rate takes effect. Past dates trigger a replay. | Yes | Date |
| **End date** | The date the rate stops. Select **End of loan** for no end date. | No | Date or "End of loan" preset |
| **End existing rates** | When selected, updates any existing rates without an end date to end one calendar day before this rate's start date. | No | Checkbox |
| **Case ID** | The case associated with this action. | Conditional | Select from open cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Remove an interest rate

If a wrong interest rate was set on a loan, you can remove it. The system replays the loan using the remaining rates.

1. From the agent-view Borrower Portal, open the loan and select **Loan options** > **Remove interest rate**.
2. For Line of Credit loans, select the scope from the **Applicable to** dropdown. Only **Line of credit only** is available for removal.
3. The form displays the current rates. Select the rate you want to remove. Rates labeled "At origination" cannot be removed.
4. If your company requires a Case ID, select a case from the **Case ID** dropdown.
5. Select **Remove interest rate**.


The rate is removed and the system replays the loan.

### Remove interest rate field reference

| Field | Description | Required | Values / Format |
|  --- | --- | --- | --- |
| **Applicable to** | Filters the rate list. Only shown for LOC loans. | Conditional | Select: Line of credit only |
| **Rate selection** | The rate to remove. Rates labeled "At origination" are not removable. | Yes | Select from current rates list |
| **Case ID** | The case associated with this action. | Conditional | Select from open cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Related pages

- [Agent-only loan tools](/servicing-operations/agent-only-tools/agent-tools-overview)
- [Set and manage rate caps](/servicing-operations/agent-only-tools/agent-tools-rate-caps)
- [Set and remove promo rates](/servicing-operations/agent-only-tools/agent-tools-promo-rates)
- [Interest accrual calculator](/servicing-operations/agent-only-tools/agent-tools-interest-calculator)