Promo rates reduce the loan interest rate for a defined period. Use Set promo rate to add a promotional rate, Remove promo rate to delete one, and Manage promotions to update or cancel promotional programs (such as Same-As-Cash offers). Setting a promo rate with a past effective date triggers an account replay.
Availability: All clients Required permissions: rates:create (to set promo rate); rates:delete (to remove promo rate); loan.promoprogram:update (to manage promotions) Loan status: active Loan types: All
- 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%.
- 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.
- From the agent-view Borrower Portal, open the loan and select Loan options > Set promo rate.
- For Line of Credit loans, select the scope from the Applicable to dropdown. See Global behaviors — Applicable-to selector.
- Review the current rates list displayed on the form.
- Enter the New rate (annual) as a percentage (0–9999.99).
- Select a Start date. The date can be in the past, today, or in the future. The minimum is the loan start date and the maximum is the last scheduled payment date.
- Optionally select an End date, or choose End of loan. The end date must be at least one day after the start date.
- If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
- Select Set promo rate.
| Field | Description | Required | Values / Format |
|---|---|---|---|
| Applicable to | Whether the rate applies to the line, 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 |
| Current rates | Displays existing rates on the loan. Updates when Applicable to changes. | — | Read-only list |
| New rate (annual) | The promotional rate as a percentage. | Yes | Number (0–9999.99) |
| Start date | The date the promo rate begins. | Yes | Date (min: loan start date, max: last scheduled payment) |
| End date | The date the promo rate ends. | No | Date or "End of loan" preset. Must be after start date. |
| Case ID | The case associated with this action. | Conditional | Select from open cases. Required when forceCaseIdOnAgentActions is enabled. |
- From the agent-view Borrower Portal, open the loan and select Loan options > Remove promo rate.
- For Line of Credit loans, select the scope from the Applicable to dropdown. Only Line of credit only is available.
- The form displays the current promo rates. Select the rate to remove.
- If your company requires a Case ID, select a case from the Case ID dropdown.
- Select Remove promo rate.
The rate is removed and the system replays the loan.
| 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 promo rate to remove. "At origination" rates cannot be removed. | 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. |
Promotional programs are structured offers tied to a loan — for example, a Same-As-Cash program where interest is waived if the borrower pays the full amount within the promotional period. Use this tool to update program details or cancel a program.
- From the agent-view Borrower Portal, open the loan and select Loan options > Manage promotions.
- Select a Promotional program from the dropdown.
- The form displays the program details: name, current status, end date, grace period, and effective end date.
- To cancel an active program:
- Change the Status to Canceled.
- Select a Promo cancel reason.
- Optionally select Send notice to borrower to email the borrower about the cancellation.
- To update an active program:
- Modify the Promo end date and Promo grace period in days as needed.
- If your company requires a Case ID, select a case from the Case ID dropdown.
- Select Update program.
Note: The Status dropdown is disabled for programs in exercised status (the borrower successfully completed the promotion terms).
| Field | Description | Required | Values / Format |
|---|---|---|---|
| Promotional program | The program to manage. | Yes | Select from programs on the loan |
| Status | The program status. Disabled for exercised programs. | Yes | Select: Active, Canceled. Hidden for LOC loans with canceled status. |
| Promo cancel reason | The reason for canceling. Only shown when status is changed to Canceled. | Conditional | Select: Expired, Disqualified, Borrower Opted Out, Administrative Error |
| Send notice to borrower | Sends an email about the cancellation. Only shown when changing from Active to Canceled. | No | Checkbox |
| Promo end date | The promotion end date. Only shown and editable when status is Active. | Conditional | Date |
| Promo grace period in days | Extra days after the end date for the borrower to complete the promotion terms. Only shown when status is Active. | Conditional | Number |
| Case ID | The case associated with this action. | Conditional | Select from open cases. Required when forceCaseIdOnAgentActions is enabled. |