How do I add an interest rate on an employee's loan deduction component?

How do I add an interest rate on an employee's loan deduction component?

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This feature is available on all Deel Local Payroll powered by payspace editions

An interest rate can be inserted when adding the Loan Deduction component on the Recurring Payroll Component screen.

      Navigate > Employee > Payroll Processing > Recurring Payroll Components > Deductions