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Interest main settings

Parameter name
Type
Description

Organisation*

Text

Enter the name of the organisational tenant.

Method assignment code*

Text/ Number

Enter the name of the interest method assignment. This parameter is used for finding a suitable method for newly created accounts.

Account type*

List

Select the account type:

  • SAVING,

  • CURRENCY.

Currency*

List

Select the interest currency.

Rate type*

List

Select the rate type:

  • Fixed interest rate,

  • Floating interest rate.

Margin type*

List

Select margin type:

  • Percentage of the base rate that is subtracted from the base rate (the permissible range of values is between 0% and 100%),

  • Fixed percentage that is subtracted from the base rate (the permissible range of values is between 0% and 10%).

Note: this parameter is available if the Rate type = Floating interest rate.

Account holder type*

List

Select the available type of the account holder:

  • Private,

  • Legal.

Interest group*

List

Select the interest group option:

  • Interest on deposit balance,

  • Interest on overdraft balance (available for currency account type only).

Note: Only the Interest on deposit balance option is selectable if the Rate type = Floating interest rate.

Calculation base term*

List

Select the calculation base term:

  • Simple term - Interest rate does not depend on the account balance and age;

  • Tiered term per partial balance - For each tier of the balance, a different interest rate is applied. When the tier is not found, then the interest is not calculated.

Base balance type*

List

Select the balance type:

  • End of day balance,

  • Minimum daily balance,

  • Average daily balance.

Days in month*

List

Select the days in a month:

  • 30,

  • ACT (the actual amount of days in a month).

Days in year*

List

Select the days in a year:

  • 360,

  • 365,

  • ACT (the actual amount of days in a year).

Interest payment frequency

List

Select the interest payment frequency:

  • First day of month,

  • First day of the year.

Minimum payable unit

Number

Enter a minimum interest balance paid out after the interest accrual period.

The value consists of 2 decimals; it cannot be negative.

Validity start date*

Date

Select the period when the account interest method is valid. Format: DD.MM.YYYY.

Validity end date (last value excl.)

Date

Select the interest validity end date. Format: DD.MM.YYYY.

Accounts to which the interest applies*

List

Select one of the available options:

  • All accounts,

  • New accounts,

  • All accounts except accounts with manually changed interest rates.

Reason*

List

Select one of the available options:

  • Standard conditions,

  • Error corrections,

  • Special conditions.

Comment

Text

Enter the additional information in the comments field.