Create a savings product

New on the savings products list opens this wizard. Edit on a product uses the same steps and returns to that product when you close.

On a large screen, steps stay in a left rail. Previous and Next sit at the bottom of the page. On a tablet or phone the steps run across the top. Required fields are marked with an asterisk (*). Amounts show the currency code, not a symbol.

You can jump back to an earlier step without losing what you typed. Bankayo only asks for extra fields when you turn a feature on — for example overdraft limits after you allow overdraft, a tax group after withhold tax, three dormancy day counts after you track dormancy, GL accounts after you leave accounting on None.

The video on this page walks the wizard and stops on None without saving. A second walkthrough, savings product with cash accounting, creates Normal Savings With Accounting, sets Cash, maps a payment channel, and saves.

The eight steps

1. Details — name, short name, description.
2. Currency — code, decimal places, multiples. Amounts stay disabled until a currency is chosen.
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, and the GL accounts that rule requires.
7. Mappings — payment channels and charges to GL accounts (when accounting is not None).
8. Review — confirm every section, then create or save.

Rules that span steps

The core banking system will reject combinations that do not work together. Bankayo blocks the common ones in the form:

• A lock-in period needs both a length and a unit (days, weeks, months, or years).
• An annual fee on settings needs both an amount and a due day.
• Withhold tax needs a tax group.
• Dormancy needs three increasing day counts (inactive, then dormant, then escheat).
• If lien and overdraft are both on, both limits are required and the overdraft limit cannot be greater than the lien limit.
• Cash or accrual accounting needs the matching GL accounts; None does not. Savings accounting has no upfront accrual option. Overdraft GL accounts are required on cash and accrual even if the product does not allow overdraft. Tracking dormancy with books on also needs an escheat liability account.

If save still fails, the message comes from the core banking system — fix the highlighted fields and try again.

Creating needs savings-product create permission; editing needs update permission. Viewing a product you cannot edit still opens the definition without Edit.