# Manage promo rates and promotional programs

Promo rates reduce the loan interest rate for a defined period. Use **Set promo rate** to add a promotional rate and **Remove promo rate** to delete one. Use **Manage promotions** to update or cancel promotional programs (such as Same-As-Cash offers). If you set a promo rate with an effective date of today or earlier, Peach replays the installment loan or draw. For a draw, Peach replays the whole line of credit. A rate set on the line of credit itself doesn't replay.

**Availability:** All clients
**Required permissions:** `rates:create` (to set promo rate); `rates:delete` (to remove promo rate); `loan.promoprogram:update` (to open **Manage promotions**); `loan.promoprogram:list` (to load programs); `loan.promoprogram:delete` (also to cancel)   
**Loan status:** `active`
**Loan types:** All

## Before you begin

- A promo rate reduces the effective interest rate by the promo amount. For example, if the loan rate is 20.3% and a promo rate of 2% is applied, the net rate during the promo period is 18.3%.
- When interest rates overlap on the same dates, the lowest effective rate applies.
- When Peach accrues interest, it adds together promo rates that overlap on the same dates.
- Peach subtracts the promo total from the interest rate. The result doesn't go below zero.
- Rates labeled **At origination** were set at loan creation.


## Set a promo rate

1. From the agent-view Borrower Portal, open the loan's options menu and select **Set promo rate**. The menu label is the loan's display name followed by "options", or **Account options** if there is no display name.
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. Review the **Rates** list. It's hidden when **Applicable to** is **Line of credit and draws**.
4. Enter the **New rate (annual)** as a percentage (0–9999.99).
5. Select an **Effective date**. The date can be in the past, today, or in the future.
6. Optionally select an **End date**, or choose **End of loan**.
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 promo rate**.


### Set promo rate field reference

| Field | Description | Required | Values / Format |
|  --- | --- | --- | --- |
| **Applicable to** | Whether the rate applies to the line of credit only, the line of credit and all its draws, or a specific active or accelerated draw. Only shown for LOC loans. | Conditional | Select: Line of credit only, Line of credit and draws, or an active or accelerated draw |
| **Rates** | Displays existing rates on the loan. Updates when **Applicable to** changes. Hidden when **Applicable to** is **Line of credit and draws**. | — | Read-only list |
| **New rate (annual)** | The promotional rate as a percentage. | Yes | Number (0–9999.99) |
| **Effective date** | The date the promo rate begins. | Yes | Date |
| **End date** | The date the promo rate ends. | No | Date or **End of loan** preset |
| **Case ID** | The case associated with this action. | Conditional | Select from open cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Remove a promo rate

1. From the agent-view Borrower Portal, open the loan's options menu and select **Remove promo rate**.
2. For line of credit loans, select the scope from the **Applicable to** dropdown. The options are **Line of credit only** and each active or accelerated draw.
3. The form displays the current promo rates. Select the rate to remove.
4. If your company requires a Case ID, select a case from the **Case ID** dropdown.
5. Select **Remove promo rate**.


Peach removes the rate. If the rate's start date is today or earlier, Peach replays the installment loan or draw. For a draw, Peach replays the whole line of credit. Removing a rate set on the line of credit itself doesn't replay.

### Remove promo 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, or an active or accelerated draw |
| **Rates** | The promo rate to remove. | Yes | Select from current promo rates list |
| **Case ID** | The case associated with this action. | Conditional | Select from open cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Manage promotional programs

Promotional programs are structured offers tied to a loan. For example, a Same-As-Cash program waives interest if the borrower pays the full amount by the program's effective end date. The effective end date is the end date plus any grace period. Use this tool to update program details or cancel a program.

1. From the agent-view Borrower Portal, open the loan's options menu and select **Manage promotions**.
2. Select a program from the **Promotions** dropdown.
3. The form displays the program details: **Name**, **Status**, **Start date**, **End date**, **Grace period in days**, and **Effective end date**.  For an exercised program, it also displays the **Exercise date**.
4. To cancel an active program:
  - Change the **Status** to **Canceled**.
  - Select a **Reason**.
  - Optionally select **Send promotion canceled notice to borrower** to send the borrower a cancellation notice. The checkbox is unchecked by default.
5. To update an active program:
  - Modify the **End date** and **Grace period in days** as needed.
6. If your company requires a Case ID, select a case from the **Case ID** dropdown.
7. Select **Update program**.


The cancel reason affects what Peach does next:

- If you cancel a deferred-interest program on a draw with **Administrative Error**, Peach replays the draw's whole line of credit. The replay starts when the program was created. If the line's activation date or migration cutoff is later, the replay starts then.
- If you cancel a deferred-interest program on an installment loan with **Administrative Error**, Peach replays the installment loan. The replay starts when the program was created. If the loan's activation date is later, the replay starts then.
- Only a deferred-interest program canceled for **Administrative Error** replays. Other reasons don't replay, and a Same-As-Cash program canceled for any reason doesn't replay. For a deferred-interest program canceled for another reason, Peach recognizes the deferred interest immediately.
- A draw with a program canceled for any reason other than **Administrative Error** can't get a new promotional program.


For programs in `exercised` status (the borrower successfully completed the promotion terms), the status shows as read-only text and you can't submit the form.

### Manage promotions field reference

| Field | Description | Required | Values / Format |
|  --- | --- | --- | --- |
| **Promotions** | The program to manage. | Yes | Select from programs on the loan |
| **Status** | The program status. Shown as read-only text for exercised programs. | Yes | Select: Active, Canceled. Read-only text for LOC programs that are already canceled. |
| **Reason** | The reason for canceling. Shown when the status isn't Active. | Conditional | Select: Expired, Disqualified, Borrower Opted Out, Administrative Error |
| **Send promotion canceled notice to borrower** | Sends the borrower a cancellation notice. Only shown when changing from Active to Canceled. | No | Checkbox, unchecked by default |
| **End date** | The promotion end date. Always shown. Editable only when the status is Active. | Conditional | Date |
| **Grace period in days** | Extra days added to the end date to set the effective end date. Hidden when the status is Canceled. | Conditional | Number |
| **Case ID** | The case associated with this action. | Conditional | Select from open, closed, or canceled cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Related pages

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