Guide · 2 min read
Designing a target-savings product in an afternoon
Rates, penalties and approvals in the Product Factory — a worked example.
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Target savings help customers save towards a goal with a better rate in exchange for keeping the money in. Here is how to design one.
Decide the rules
- Minimum and maximum tenor
- Interest rate and how it compounds
- Penalty for breaking early
- Whether top-ups are allowed
Configure, preview, approve
Start from the savings template, set the rules, and preview interest for a few example customers. Submit for approval; a checker reviews the diff before it can go live.
Products are configuration, versioned and approved — not code changes waiting for a release.
