Mobile Field Officer Applications
Payment and Process Orchestration
Core Banking & Embedded Finance
Application Framework
Saving Product Fields

Saving Product Fields

Details Section
Field name (attribute)
Description
Example
Validations (if applicable)
Product name
The product name is a unique identifier for the saving product. The product name is used:
  • In Product lists (depending on where the product list appears, it may contain a list of all saving products or a list of active saving products)
  • As the Saving Account identifier in the Saving Account Overview section on the client General tab
  • In the Name column in the list of saving products displayed when Saving Products is clicked on the Products page
  • In Savings Reports headers to group product types
  • As the Saving Account identifier at the top of the detail savings product page displayed when a specific saving product is selected from the list of savings products displayed when Saving Products is clicked on the Products page
  • In the Product name field to create a Savings Product
Monthly Interest Saving
Required field
Alphanumeric
Maximum 100 characters
Short name
The short name is a unique identifier for the saving product. The short name is used:
  • In the Short name column in the list of saving products displayed when Saving Products is clicked on the Products page
  • In the Short name field on the detail savings product page displayed when a specific saving product is selected from the list of savings products, displayed when Savings Products is clicked on the Products page
  • In the Short name field to create a Savings Product
  • Where is it used in reports? - not used in any existing Savings Report
Monthly Interest Saving
Required field
Alphanumeric
Maximum 4 characters
Description
The description is used to provide additional information regarding the purpose and characteristics of the saving product. The description is used:
  • To create a Savings Product
  • In the Description field on the detail savings product page displayed when a specific saving product is selected from the list of savings products, displayed when Saving Products is clicked on the Products page
  • In the Description field to create a Savings Product
  • Where is it used in reports? - not used in any existing Savings Report
Monthly Interest Saving
Alphanumeric
Maximum 500 characters
Currency Section
Field name (attribute)
Description
Example
Validations (if applicable)
Currency
The currency to be used for the saving product. Select the saving product's currency from the Currency list.
Required field
Decimal places
The number of decimal places to be used to track and report on saving accounts based on the saving product.
2
Required field
Numeric
Multiples of
You can enter multiples of currency value. For example, if you put "multiples of 100", the currency value will be rounded off to 200, 300, 400, etc.
0
Required field
Numeric
Terms Section
Field name (attribute)
Description
Example
Validations (if applicable)
Nominal annual interest rate
The default interest rate set when creating savings accounts based on this saving product, e.g. 5% per year. Nominal annual interest rate is expressed as the annual percentage rate (APR).
5
Required field
Numeric (percentage) with decimals
Interest compounding period
The period at which interest rate is compounded.
Monthly
Required field
Select from list
Interest posting period
The period at which interest rate is posted or credited to a saving account based on this saving product.
Monthly
Required field
Select from list
Interest calculated using
The method used to calculate interest.
Average Daily Balance
Required field
Select from list
Days in years
The setting for number of days in year to use to calculate interest. For example 360 days or 365 days.
360
Required field
Select from list
Settings Section
Field name (attribute)
Description
Example
Validations (if applicable)
Minimum opening balance
Sets the minimum deposit amount required to open a saving account of this saving product type.
2000
Optional field
Numeric with decimals
Locking period frequency
Used to indicate the length of time that a savings account of this saving product type is locked-in and withdrawals are not allowed.
6 Months
Optional field
Numeric and select from list
Apply Withdrawal fee for transfers
Indicates whether the withdrawal fee should be applied when funds are transferred between accounts.
Note that the withdrawal field must have been defined in the system. See How to Create a Charge.
Optional field
Check if true; Uncheck if false
Balance Required For Interest Calculation
Sets the balance required for interest calculation.
Optional field
Enforce minimum balance
Indicates whether to enforce a minimum balance.
Optional field
Check if true; Uncheck if false
Minimum balance
Sets the minimum balance allowed for a saving account.
Optional field
Is Overdraft allowed?
Indicates whether saving accounts based on this saving product may have an overdraft.
Optional field
Check if true; Uncheck if false
Maximum overdraft amount limit
Sets the maximum allowed overdraft amount for a saving account that is allowed to have an overdraft.
5000
Required if 'Is Overdraft Allowed' is checked
Charges Section
Field name (attribute)
Description
Example
Validations (if applicable)
Charges
Select a charge from the Charges list and click Add. If more charges apply to the saving product, select additional charges and click Add for each.
Accounting Section
Field name (attribute)
Description
Example
Validations (if applicable)
Accounting
Select one from:
  • None
  • Cash
If Cash is selected, see additional fields.
Last modified 2yr ago
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