Ideas for the Mambu Banking Engine

Separate section for overdraft interest calculation and application in Deposit Products

What: Separate the interest application rules for positive balance and negative balance interest. Under the “Overdraft Conditions” section, add options similar to the ones in “Interest rate”, but only applicable to overdraft interest, as follows:

  • What Account Balance is Used for Calculations? (currently, only “End of Day” balance supported, but we might add other options in the future)
  • When is the Interest Paid Into the Account? (currently, all options available for positive balance interest are also applicable for overdrafts).

Why: Organizations most often have different policies for interest application on positive deposit balances and overdrafts. It is market standard in Europe to post the accrued interest at the end of the quarter for overdrafts and annually on deposits.

  • Rodica Levitchi
  • Jan 29 2016
  • Planned
  • Attach files