Update Account Product

put

https://api.cloud.mbanq.com/v1/savingsproducts/{productId}

Use this API to update an existing account product.

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Path Params

productId

string

required

Defaults to 101

The Id of the Savings Product

Body Params

name

string

The updated name of the savings product.
Example: Saving Product test

shortName

string

The updated short name for the savings product.
Example: savi

description

string

A brief description of the savings product.
Example: SAVING TEST

currencyCode

string

The currency code of the savings product.
Example: USD

digitsAfterDecimal

integer

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

inMultiplesOf

string

The increment step for deposits and withdrawals.
Example: 1

nominalAnnualInterestRate

string

The nominal annual interest rate for the savings product.
Example: 2

minRequiredOpeningBalance

string

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

withdrawalFeeForTransfers

boolean

Indicates whether a withdrawal fee is applied for transfers.
Example: false

interestCompoundingPeriodType

integer

The period type for compounding interest.
Example: 1 (Daily)

interestPostingPeriodType

integer

The period type for posting interest to the account.
Example: 4 (Annually)

interestCalculationType

integer

The method used to calculate interest.
Example: 1 (Daily Balance)

interestCalculationDaysInYearType

integer

The number of days used in interest calculations for the year.
Example: 365 (Actual Days)

accountingRule

integer

The accounting rule applied to the savings product.
Example: 1 (Cash Based)

allowOverdraft

boolean

Indicates whether overdrafts are allowed for this product.
Example: false

enforceMinRequiredBalance

boolean

Indicates whether the minimum required balance is enforced.
Example: false

withHoldTax

boolean

Indicates if tax is withheld for this product.
Example: false

isDormancyTrackingActive

boolean

Indicates if dormancy tracking is active for this savings product.
Example: false

isUsedForSuspenseAccounting

boolean

Indicates if this product is used for suspense accounting.
Example: false

isLinkedWithFundSourceAccount

boolean

Indicates if the product is linked with a fund source account.
Example: false

skipCollectTransferCharge

boolean

Indicates whether to skip collecting transfer charges.
Example: false

isReservedProduct

boolean

Indicates if the product is reserved.
Example: false

isLinkedToFloatingInterestRates

boolean

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

floatingRateId

integer

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

interestRateDifferential

string

The interest rate differential for the product.
Example: 12

isFloatingInterestRateCalculationAllowed

boolean

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

minDifferentialRate

string

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

defaultDifferentialRate

string

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

maxDifferentialRate

string

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

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

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 updated savings product.
Example: 01 January 2024

endDate

string

The end date for the updated 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

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

application/json

200Account Product updated successfully.