The parameter details for the General conditions section are as follows:
Product code*
Text
Enter a name for the credit product.
Status*
List
Select one of the following values for the status of the credit product:
ACTIVE - credit product is active to use:
Credit offer can be created.
Credit product cannot be updated in this state.
INACTIVE - Credit product is inactive to use:
Credit type can be updated in this state.
Credit type is created in this state.
Credit offer cannot be created.
The default value is ACTIVE.
Description*
Text
Enter a description for the credit product.
Currency*
List
Select a currency from the drop-down menu.
Country*
List
Select a country from the drop-down menu.
Card scheme*
List
Select one of the following card schemes:
Mastercard,
Visa.
Min credit limit*
Number
Enter the minimum amount of credit limit that will be applicable for the credit product.
Max credit limit*
Number
Enter the maximum amount of the credit limit.
Default credit limit*
Number
Enter the default amount of the credit limit.
Offer valid days*
Number
Enter the number of days for which the offer is valid.
APR calculation rule
This field is non-editable and the value is fixed as EFFECT.
APR (Annual Percentage Rate) refers to the annual interest that is generated on the borrowed amount. The value EFFECT means that the effective annual interest rate is returned, given the nominal annual interest rate and the number of compounding periods per year.
Credit account type*
List
Select a credit account from the drop-down menu.
Account types are fixed in Tuum’s platform, these determine the account behaviour within Tuum.
A credit account is a part of a credit contract, this holds the credit limit, principal balance, reservations and transactions
Reporting product code*
List
Select a reporting product code from the drop-down menu.
Service account rule*
List
Select one of the following options:
Current account,
No account.
This value defines whether there would be an account from where repayments are done. If defined as No account, means that there is no account from where repayments are done.
Reference number generation rule*
List
Select one of the following options:
7-3-1 method,
SEPA reference number,
None.
Organization*
List
Select an organisation unit from the drop-down menu. The organisation unit is used to manage users and their roles.
See the for more details.
