Deposit Product Versioning

Deposit product versioning lets administrators preserve product terms over time while safely introducing new rules for future accounts.

Workspace Reference

Workspace	How Users Reach It	What Users Usually Do There
Deposit Products	Deposits -> Setup -> Products	Create and review product versions, effective dates, change summaries, and product behavior.
Deposit Product Flags	Deposits -> Setup -> Products	Confirm versioned flags for interest, limits, access, KYC, AML, maturity, pricing, and GL behavior.
Deposit Accounts	Deposits -> Operations -> Accounts	Confirm which product version an account uses and whether terms are pinned or current.
Approval Items	Dashboard -> Approval Items	Review and approve product/version changes where approval is configured.

Why Versioning Exists

Deposit products often change because of pricing updates, compliance policy, account limits, fees, access rules, or maturity terms. Versioning helps ensure that:

• historical product terms remain reviewable
• existing accounts can remain under the terms they were opened with
• new rules can be prepared before activation
• auditors can see what changed and when
• product changes do not accidentally affect the wrong accounts

Version Lifecycle

Status	Meaning
Draft	Version is being prepared and is not live.
Approved	Version has passed review and can be activated.
Active	Version is currently live for new eligible accounts.
Retired	Version was previously active and has been replaced.
Rejected	Version was reviewed and rejected.

Creating A Version

When creating a version, capture:

• version number or label
• effective date
• optional expiry date
• change summary
• product terms and flags included in the version

The change summary should explain the business reason, not just the field that changed.

Activating A Version

Activating a new version makes it the live product version for future use and retires the previous active version.

Before activation, confirm:

• the version has the correct effective date
• reviewed flags match the approved policy
• fee, interest, limit, KYC, AML, access, and maturity rules are correct
• impacted teams understand when the new version applies

Account Binding

Some accounts may be pinned to the version that applied when they were opened. This is especially important for fixed deposits, regulated products, and products where terms should not shift automatically after account creation.

Other accounts may use the current live product rules, depending on policy.

Flag Areas Captured By Versions

Versioning can preserve settings across areas such as:

• transaction limits
• overdraft rules
• access channels
• KYC and verification requirements
• interest and compounding behavior
• backdating rules
• AML monitoring thresholds
• maturity and renewal behavior

Best Practices

• Create a new version before changing material product rules.
• Use meaningful version labels such as 1.0, 1.1, or 2.0.
• Write clear change summaries.
• Review the full flag set before activation.
• Pin long-term or regulated accounts where terms must remain stable.
• Avoid editing active terms without a versioning and approval trail.

Related Guides

• Deposit Products
• Deposit Product Flags
• Deposit Accounts