Savings products

Open Products → Savings (or press Ctrl+K and type "savings products"). You need permission to view savings products — if the menu item is missing, ask your administrator.

A savings product is the template for every savings account opened on it. It sets the currency, the advertised interest rate, how interest compounds and posts, optional opening and lock-in rules, overdraft and lien, tax and dormancy, attached charges, and — when books are kept in Bankayo — the general-ledger accounts those movements post to.

When an officer opens a savings account, the docked sidebar starts from this product. Required is the product and dates; Optional can still change interest, balances, lock-in, overdraft, lien, tax, and charges for that one account.

The list

Each row is a product: name, short name, currency, and accounting rule.

• Search with the box above the table.
• New starts the create wizard when your role allows it.
• Open a product by clicking its row.

Opening a product

The product opens as a workspace with a section rail — the same pattern as a loan product.

• General, Terms, and Settings are always there.
• Fees, Penalties, Accounting, channel mappings, and fee/penalty GL mappings appear only when the product has them.
• Charge names link to the charge.
• Accounting lists GL accounts by type (assets, income, expenses, liabilities). Create them under Accounting → Chart of accounts.
• On a phone the sections run across the top.

Edit opens the same eight-step wizard used to create the product. Close returns here.

What a savings product does not have

• No start or close date. Only loan products have a product availability window.
• No upfront accrual. Savings accounting is None, Cash, or Accrual (periodic). Loan products also offer Accrual (upfront).
• No fund label. Loan products can name an organization fund. Savings products do not.
• No override checkboxes. Loan products lock some terms unless you allow overrides. On savings, the open-account sidebar always offers the product defaults as optional changes for that account.

Wizard steps

Create and edit walk the same steps. Each has its own help page. Two videos cover the wizard: create (None, unsaved) and cash accounting (Cash, saved as Normal Savings With Accounting).

1. Details — name, short name, description.
2. Currency — code, decimal places, multiples.
3. Terms — nominal annual rate, compounding, posting, calculation, and days in year.
4. Settings — balances, lock-in, overdraft, lien, tax, and dormancy.
5. Charges — fees and penalties in this product’s currency.
6. Accounting — None, cash, or accrual periodic, every GL account that rule needs, and what the terms mean.
7. Mappings — payment channels and charges to GL accounts (when accounting is not None).
8. Review — confirm every section, then create or save.

Troubleshooting