An offer letter in savings is a formal document provided to a customer outlining the terms and conditions of the savings plan being created. This document includes critical information such as the amount to be saved, interest rate, savings duration, withdrawal terms, and any applicable fees. The offer letter serves as an agreement between the platform and the customer, ensuring clarity and transparency before the savings plan begins.
For lenders and savings providers using Lendsqr’s platform, configuring offer letters for your savings products is an essential step to streamline the savings plan creation process and ensure customers clearly understand their commitments before funds are locked into a plan.
Steps
1. Login to the Admin Console
- Open your web browser and log into the Lendsqr admin console with your credentials.
2. Click on "Savings Products" under Product Management
- From the main dashboard, go to Product Management and select Savings Products. This will display a list of all the savings products you have created.
3. Create or Edit a Savings Product
- To create a new savings product, click Create.
- To edit an existing savings product, click the Edit button in the options menu for that product.
4. Configure the Savings Offer Letter
- Scroll down to the Additional details section on the savings product creation or edit page.
- Toggle the switch labeled Require savings offer letter to the right, then select your offer letter from the offer letter table.
5. Save Your Changes or Create Savings Product.
- After making the necessary configurations, click Save Changes to apply the changes to the savings product or Create Savings Product.