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API Reference

Create Fixed Deposit Account

post
https://api.cloud.mbanq.com/v1/fixeddepositaccounts

Use this API to create a new Fixed Deposit Account for a customer. You need to specify the relevant account details and deposit parameters.

Behaviour: A successful response from this API indicates that the Fixed Deposit Account has been created successfully, with all specified terms and conditions applied.

Body Params
integer
required
Defaults to 609

The ID of the fixed deposit product to be used for the account.
Example: 609

string
required
Defaults to 1000

The amount to be deposited in the fixed deposit account.
Example: 1000

string
required
Defaults to 1

The period for the deposit in terms of the frequency type.
Example: 1

integer
required
Defaults to 3

The frequency type for the deposit period (e.g., Months, Years).
Example: 3
1 - WEEKS
2 - MONTHS
3 - YEARS

boolean
required
Defaults to true

Indicates whether the client has given consent for the fixed deposit.
Example: true

date
required
Defaults to 22 October 2024

The date when the fixed deposit application is submitted.
Example: 22 October 2024

string
required
Defaults to en

The locale used for date and number formatting.
Example: en

string
required
Defaults to dd MMMM yyyy

The date format used in the request.
Example: dd MMMM yyyy

string
required
Defaults to 5162

The unique identifier of the client opening the fixed deposit account.
Example: 5162

number

The annual nominal interest rate for the fixed deposit account.
Example: 0

number

The minimum required opening balance for the fixed deposit account.
Example: 0

boolean

Indicates whether tax should be withheld on the interest earned.
Example: false

integer

The compounding period type for the interest calculation.
Example: 1
1 - DAILY
4 - MONTHLY
5 - QUATERLY
6 - BI_ANNUAL
7 - ANNUAL
`8 - NO_COMPOUNDING_SIMPLE_INTEREST

integer

The period type for posting interest to the account.
Example: 4
4 - MONTHLY
5 - QUATERLY
6 - BI_ANNUAL
7 - ANNUAL
8 - DAILY

integer

The calculation method for the interest.
Example: 1
1 - DAILY_BALANCE
2 - AVERAGE_DAILY_BALANCE

integer

The number of days considered in a year for interest calculation.
Example: 365

boolean

Indicates if a penalty is applicable for pre-closure of the account.
Example: false

integer

The minimum term for the deposit, in terms of the selected period type.
Example: 3

integer

The type of period for the minimum deposit term (e.g., Months, Years).
Example: 2

string

Indicates if the interest should be transferred to a savings account.
Example: false

string

The format for displaying month and day.
Example: dd MMM

charges
array of objects

A list of charges to be applied to the fixed deposit account.

charges
charts
array of objects

A list of interest rate charts applicable to the fixed deposit.

charts
Headers
string
required

The ID of your banking instance visible in the MBANQ Console.

string
enum
Defaults to application/json

Generated from available response content types

Allowed:
Responses

Updated 3 months ago

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application/json

Updated 3 months ago

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