Create Credit Account

post https://api.cloud.mbanq.com/v1/creditaccounts

Use this API to issue a new credit account for an existing client.

Behaviour : A successful response from this API indicates that the credit account is successfully created.
The initial status of the credit account created will be Submitted and Pending Approval and the same can be approved using the Approve Credit Account API.

Body Params

clientId

integer

required

Defaults to 12

The associated client Id for the credit account.
Note: The client must be an existing client in the system.
Example: 12

creditProductId

integer

required

Defaults to 1

The associated credit account product Id. It will be configured for production.
Example: 1

creditLimit

integer

required

Defaults to 50000

Total credit limit for the credit account.
Example: 50000

cashLimit

integer

required

Defaults to 10000

Total cash advance limit within the total credit limit for the credit account.
Example: 10000

submittedOnDate

string

required

Defaults to 01 January 2024

The date of submission of the credit account application.
Note: The date format should be in the format specified in the dateFormat field.
Example: 01 January 2024

dateFormat

string

required

Defaults to dd MMMM yyyy

The preferred date format for the submitted on date.
Example: dd MMMM yyyy

locale

string

required

Defaults to en

Specify the locale preference.
Example: en

externalId

integer

The associated unique external Id for credit account.
Example: 997854444

nominalAnnualInterestRate

number

The nominal annual purchase interest rate.
Note: If the field isn't specified, it will be fetched from the credit product setup. You must explicitly specify if you wish to override it with a configuration from the credit product.
Example: 22.49

nominalCashAdvanceInterestRate

number

The nominal annual cash advance interest rate.
Note: If the field isn't specified, it will be fetched from the credit product setup. You must explicitly specify if you wish to override it with a configuration from the credit product.
Example: 29.99

nominalAnnualPenaltyInterestRate

number

The nominal annual penalty interest rate.
Note: If the field isn't specified, it will be fetched from the credit product setup. You must explicitly specify if you wish to override it with a configuration from the credit product.
Example: 30

currentAccountId

integer

This field specifically pertains to secured credit accounts. It denotes the unique identifier of the associated deposit account from which funds will be drawn to create a collateral deposit.
Example: 1

Headers

tenantId

string

required

Defaults to z01j3e71zd6zkq908vyf5861a8

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

Response

Language

Credentials

Bearer

JWT


xxxxxxxxxx
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curl --request POST \
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     --url https://api.cloud.mbanq.com/v1/creditaccounts \
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     --header 'accept: application/json' \
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     --header 'content-type: application/json' \
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     --header 'tenantId: z01j3e71zd6zkq908vyf5861a8' \
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     --data '
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{
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  "clientId": 12,
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  "creditProductId": 1,
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  "creditLimit": 50000,
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  "cashLimit": 10000,
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  "submittedOnDate": "01 January 2024",
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  "dateFormat": "dd MMMM yyyy",
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  "locale": "en"
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}
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'

Click Try It! to start a request and see the response here! Or choose an example:

application/json

200The credit account is issued successfully and card status is 'Submitted and Pending Approval'.