Inform prospective borrowers on the rate at which compensation fees for use of assets, such as borrowed money, is paid to the lender, and at which percentage of the loan the interest stands.
advise on interest rates
communicate information on interest rates
counsel on interest rates
Skill reusability level
Relationships with occupations
Inform on interest rates is an essential skill of the following occupations:
Mortgage broker: Mortgage brokers handle mortgage loan applications from clients, collect loan documentation and search for new mortgage lending opportunities. They complete and close mortgage loan processes for their clients.
Loan officer: Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Inform on interest rates is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.
Financial planner: Financial planners assist people dealing with various personal financial issues. They are specialised in financial planning, such as retirement planning, investment planning, risk management and insurance planning, and tax planning. They advise a strategy tailored to the client’s needs. They ensure the accuracy of bank and other financial records while maintaining a customer-orientated approach and following ethical standards.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Relationship banking manager: Relationship banking managers retain and expand existing and prospective customer relationships. They use cross-selling techniques to advise and sell various banking and financial products and services to customers. They also manage the total relationship with customers and are responsible for optimising business results and customer satisfaction.
- Inform on interest rates – ESCO