Saving products are the different savings categories that govern the type of savings offerings that an admin can create within that product.
For each saving product created, lenders must also set up specific savings offerings under that product. These offerings define what customers can access within the scope of the savings product.
Furthermore, each savings offering clearly states the minimum and maximum amounts a customer can save, along with the applicable interest rate and tenor range for the saved amount. You can configure this by clicking on “Savings Product” under the “Product Management” tab.
In addition, lenders typically create three common types of savings products: “Fixed Investments“, “Regular Savings“, and “Halal Savings“, the latter being interest-free.
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