diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index 9b124826fcec..8715f2b23547 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -805,6 +805,9 @@ def get_depreciation_rate(self, args, on_validate=False):
 			):
 				return args.get("rate_of_depreciation")
 
+			if args.get("rate_of_depreciation") and not flt(args.get("expected_value_after_useful_life")):
+				return args.get("rate_of_depreciation")
+
 			if self.flags.increase_in_asset_value_due_to_repair:
 				value = flt(args.get("expected_value_after_useful_life")) / flt(
 					args.get("value_after_depreciation")
diff --git a/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json b/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
index 8b00bc29c3cc..60e8778e0e65 100644
--- a/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
+++ b/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
@@ -88,7 +88,8 @@
    "depends_on": "eval:doc.depreciation_method == 'Written Down Value'",
    "fieldname": "rate_of_depreciation",
    "fieldtype": "Percent",
-   "label": "Rate of Depreciation (%)"
+   "label": "Rate of Depreciation (%)",
+   "mandatory_depends_on": "eval:doc.depreciation_method == 'Written Down Value'"
   },
   {
    "fieldname": "salvage_value_percentage",
@@ -128,7 +129,7 @@
  "index_web_pages_for_search": 1,
  "istable": 1,
  "links": [],
- "modified": "2024-11-29 14:36:54.399034",
+ "modified": "2024-12-13 12:11:03.743209",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset Finance Book",