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Deposit Products
Deposit products define the templates for deposit accounts — account types, interest rules, minimum balances, withdrawal policies, and fee structures.
Navigation: Deposits -> Setup -> Products
Workspace Reference
| Workspace | How Users Reach It | What Users Usually Do There |
|---|---|---|
| Deposit Products | Deposits -> Setup -> Products | Create, edit, approve, and review deposit product behavior before live accounts use it. |
| Deposit Accounts | Deposits -> Operations -> Accounts | Open accounts that inherit product rules such as balance limits, currency, interest, and restrictions. |
| Pricing | Administration -> Financial Setup -> Pricing | Maintain account fees, charges, and related pricing rules where the product uses pricing. |
| EOD Processing | Administration -> Financial Setup -> EOD Processing | Run business-day processes that may accrue, apply, or capitalize deposit interest. |
| Accounting Setup | Accounting -> Setup | Confirm GL posting rules and mappings for interest, fees, transactions, and product-related postings. |
What Is a Deposit Product?
A deposit product is a configuration template for deposit accounts. Examples:
| Product | Type | Interest | Min Balance |
|---|---|---|---|
| Basic Savings | SAVINGS_ACCOUNT_BASIC | 3% p.a. | 10,000 UGX |
| Premium Savings | SAVINGS_ACCOUNT_PREMIUM | 5% p.a. | 500,000 UGX |
| Fixed Deposit (6M) | FIXED_DEPOSIT | 8% p.a. | 1,000,000 UGX |
| Current Account | CURRENT_ACCOUNT | 0% | 50,000 UGX |
Creating a Deposit Product
- Click Create Deposit Product
- Fill in the form:
Basic Information
| Field | Description | Required |
|---|---|---|
| Product Name | Descriptive name | Yes |
| Product Code | Unique identifier | Yes |
| Account Type | Savings, fixed deposit, or current | Yes |
| Currency | Product currency | Yes |
Interest Configuration
| Field | Description |
|---|---|
| Interest Rate | Annual percentage rate |
| Interest Calculation | Daily balance, minimum balance, or average balance |
| Capitalisation Frequency | How often interest is added to the balance (monthly, quarterly, annually) |
| Accrual Frequency | How often interest is accrued (daily, monthly) |
Balance Rules
| Field | Description |
|---|---|
| Minimum Balance | Minimum balance required to maintain the account |
| Minimum Opening Balance | Minimum deposit to open the account |
| Maximum Balance | Maximum allowed balance (if applicable) |
| Maximum Withdrawal | Maximum per-withdrawal amount |
Dormancy Rules
| Field | Description |
|---|---|
| Dormancy Period | Days of inactivity before account becomes dormant |
| Dormancy Action | What happens when dormancy is detected |
Fixed Deposit Settings
For fixed deposit products:
| Field | Description |
|---|---|
| Term | Lock-in period (months) |
| Maturity Action | Auto-renew, transfer to savings, or close |
| Early Withdrawal Penalty | Fee for breaking the fixed deposit early |
Account Types
| Type | Description |
|---|---|
| SAVINGS_ACCOUNT_BASIC | Standard savings with flexible deposits/withdrawals |
| SAVINGS_ACCOUNT_PREMIUM | Higher interest rate with higher minimum balance |
| FIXED_DEPOSIT | Locked for a fixed term at a higher rate |
| CURRENT_ACCOUNT | Transactional account with unlimited withdrawals |
Next Steps
- Deposit Accounts — Create and manage deposit accounts
- Pricing — Attach fee structures to products