Create Account Product

post

https://api.cloud.mbanq.com/v1/savingsproducts

Use this API to create an account product.

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Body Params

currencyCode

string

required

Defaults to USD

The currency code for the savings product.
Example: USD

digitsAfterDecimal

integer

required

Defaults to 2

The number of digits after the decimal point for amounts in this currency.
Example: 2

interestCompoundingPeriodType

integer

required

Defaults to 1

The period type for compounding interest.
Example: 1 (Daily), 2 (Weekly), 3 (Monthly), etc.

interestPostingPeriodType

integer

required

Defaults to 4

The period type for posting interest to the account.
Example: 4 (MONTHLY), 8 (DAILY), 5 (QUATERLY), 7 (ANNUAL).

interestCalculationType

integer

required

Defaults to 1

The method used to calculate interest.
Example: 1 (Daily Balance), 2 (Average Daily Balance), etc.

interestCalculationDaysInYearType

integer

required

Defaults to 365

The number of days used in interest calculations for the year.
Example: 365 (Actual Days), 360 (Banker's Year).

accountingRule

integer

required

Defaults to 1

The accounting rule used for this savings product.
Example: 1 (None), 2 (Cash Based), 3 (Accrual Based).

name

string

required

Defaults to savings product

The name of the savings product.
Example: savings product

shortName

string

required

Defaults to te21

A short name for the savings product.
Example: te21

description

string

required

Defaults to test

A brief description of the savings product.
Example: test

inMultiplesOf

string

Defaults to 1

The increment step for deposits and withdrawals.
Example: 1

isLinkedToFloatingInterestRates

boolean

Indicates whether the savings product is linked to floating interest rates.
Example: true

floatingRateId

integer

The ID of the floating rate linked to the product.
Example: 1

minDifferentialRate

string

The minimum differential rate for the floating interest rate.
Example: 1

interestRateDifferential

string

The interest rate differential for the savings product.
Example: 12

defaultDifferentialRate

string

The default differential rate for floating interest rates.
Example: 3

maxDifferentialRate

string

The maximum differential rate for floating interest rates.
Example: 14

isFloatingInterestRateCalculationAllowed

boolean

Indicates if floating interest rate calculation is allowed.
Example: true

minRequiredOpeningBalance

string

The minimum balance required to open the savings account.
Example: 1000

paymentChannelToFundSourceMappings

string

Mapping of payment channels to fund sources.
Example: []

feeToIncomeAccountMappings

string

Mapping of fees to income accounts.
Example: []

penaltyToIncomeAccountMappings

string

Mapping of penalties to income accounts.
Example: []

charges

array of objects

A list of charges applicable to the savings product.
Example: [{ "id": 499, "isMandatory": true }]

charges

locale

string

required

Defaults to en

The locale for formatting date and number fields.
Example: en

dateFormat

string

The date format used in the request.
Example: dd MMMM yyyy

startDate

string

The start date for the savings product.
Example: 01 January 2024

endDate

string

The end date for the savings product.
Example: 31 December 2024

Headers

tenantId

string

required

Defaults to z01j3e71zd6zkq908vyf5861a8

The ID of your banking instance visible in the MBANQ Console.

Response

Language

Credentials

Bearer

JWT

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Response

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application/json

200Account Product created successfully.