What are savings products?
Savings products are the different savings categories that govern the type of savings offerings that an admin can create within that product. For each savings product created, specific savings offerings have to be created for that savings product. The savings offerings that have been created within the range of the savings product is what is offered to the customers.
The savings offerings contain the minimum and maximum amounts that a customer can save. as well as the interest rate and the tenor range on applicable to amounts saved.
In addition, the three common savings products that lenders usually create are Fixed investments, Regular savings and Halal savings that have no interest rate.