Query about Log_Checkpoint_interval Parameter

What's the utility for Log_Checkpoint_interval ? Does it have any impact on performance of DB?

What kind of problems are you experiencing ?
Have a look at this note:
Checkpoint Tuning and Troubleshooting Guide [ID 147468.1]
LOG_CHECKPOINT_INTERVAL influences when a checkpoint occurs, which means
careful attention should be given to the setting of this parameter, keeping it
updated as the size of the redo log files is changed.  The checkpoint
frequency is one of the factors which impacts the time required for the
database to recover from an unexpected failure.  Longer intervals between
checkpoints mean that if the system crashes, more time will be needed for the
database to recover.  Shorter checkpoint intervals mean that the database will
recover more quickly, at the expense of increased resource utilization during
the checkpoint operation.
...

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