Provide a preview of what the loan schedule will look like when a new interest rate set for a future date takes effect, but before said date arrives. For example, if the current rate is 3% per year, a new rate of 3.25% may be planned for 9 months from now, and a preview of the new schedule would be required.
This follows APP-675, for changing the interest rate on an active dynamic loan account.
The terms of certain loans may permit interest rate changes, and so lending institutions may plan these in advance. A schedule preview would be useful to convey the new expected figures to their clients ahead of time, so as to avoid problems with payments or customer expectations.