SaFi Bank Space : 🗨️ Calculate interest on locked sub account

Role: System

Objective: Periodically calculate and credit interest for the locked sub account.

Reason: The customers needs to get monthly interest on their account

Functional requirements:

  • Interest accrual is calculated:

    • on daily basis

    • from the account balance (already accrued interest is not included)

    • by the end of the day.

  • Interest payout is done by the end of the tenure.

  • Interest rate for the unlocked sub account can be different from interest rate for main account and for locked sub account.

  • Interest rate is stored in the database and will be changed over time.

Alternative scenarios:

  • Locked sub account is changed to the unlocked sub account - this will be covered by separate user story.

Acceptance criteria:

  • Transactions crediting locked sub account with accumulated interest is generated by the end of the tenure.

  • It is possible to see in the database what is currently accrued interest for each locked sub account.