In this example we will review the first step of the deposit contract origination flow that starts with creating a deposit offer.
Use case data
API parameters with values
We will create a deposit offer for a test person whose account ID is ID-2660.
...persons/ID-2660/offers
The deposit is offered with the 3 month duration. The interest will be payed at the end of the contract period. The deposit country is Estonia.
The deposit amount is 5000 EUR.
Upon maturity of the deposit contract, the deposit API transfers the payout to the designated payout account. If payout details are not provided, the payout is automatically directed to the servicing account.
The default deposit interest rate is set at 0.35.
Note: If the deposit product has a defined minimum and maximum interest rate range, you can set a custom interest rate within this range to override the default rate. If no interest range is defined for the deposit product, the default interest rate of 0.35 is applied.