Call Deposit - V2 Configuration

Product Type: Notice-Period Withdrawal Deposit
Use Case: Higher returns than savings, more flexible than fixed deposit
Minimum Amount: ₦500,000 - ₦5,000,000
Notice Period: 7-90 days
Interest Rate: 5% - 9.5% per annum (notice-period based)

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Overview

Call deposits are flexible investment accounts requiring advance notice for withdrawals. They offer higher interest rates than savings accounts but lower than fixed deposits, with rates tied to the notice period given for withdrawals.

Key Features

• Notice-Period Withdrawals: 7-90 days advance notice required
• Notice-Based Rates: Longer notice periods earn higher rates
• Flexible Amounts: Add funds anytime without penalty
• Immediate Withdrawal Option: Available with penalty
• Daily Interest Calculation: Earn interest from day one
• No Fixed Tenor: Keep funds indefinitely
• Higher Returns: Better than savings, close to fixed deposits

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YAML Field Reference

Basic Information Section

Field Name	Data Type	Required	Description	Example
productCode	String	✅ Yes	Unique product code	"CD-STANDARD-001"
productName	String	✅ Yes	Display name	"Standard Call Deposit"
description	String	No	Product description	"Notice-period deposit account"
isActive	Boolean	No	Product status	true
depositAccountType	String	✅ Yes	Account type	"CallDeposit"
lineOfBusiness	Enum	No	Business classification	"Retail" or "Commercial"

Deposit Amount Configuration

Field Name	Data Type	Required	Description	Example
minimumInitialDeposit	Decimal	✅ Yes	Minimum to open	500000
minimumBalance	Decimal	✅ Yes	Ongoing minimum	500000
maximumAmount	Decimal	No	Maximum deposit	0
allowAdditionalDeposits	Boolean	No	Can add funds anytime	true

Notice Period Configuration

Field Name	Data Type	Required	Description	Example
minimumNoticePeriodDays	Integer	✅ Yes	Shortest notice allowed	7
maximumNoticePeriodDays	Integer	✅ Yes	Longest notice allowed	90
allowedNoticePeriods[]	Array	No	Specific allowed periods	[7, 14, 30, 60, 90]
defaultNoticePeriod	Integer	No	Default period	30

Interest Rate Configuration

Field Name	Data Type	Required	Description	Example
isEnabled	Boolean	✅ Yes	Whether interest is paid	true
calculationMethod	Enum	✅ Yes	Calculation approach	"DailyBalance"
creditFrequency	Enum	✅ Yes	When interest is paid	"Monthly" or "Quarterly"
compoundingFrequency	Enum	No	Interest compounding	"Monthly"

Notice-Based Interest Rates

Field Name	Data Type	Required	Description	Example
noticeRates[]	Array	✅ Yes	Rates by notice period	See below
noticeRates[].noticePeriodDays	Integer	✅ Yes	Notice period	7
noticeRates[].rate	Decimal	✅ Yes	Interest rate (%)	5.0

Example Notice-Based Rates:

noticeRates:
  - noticePeriodDays: 7
    rate: 5.0
  - noticePeriodDays: 14
    rate: 6.0
  - noticePeriodDays: 30
    rate: 7.0
  - noticePeriodDays: 60
    rate: 8.5
  - noticePeriodDays: 90
    rate: 9.5

Withdrawal Notice Configuration

Field Name	Data Type	Required	Description	Example
requireFormalNotice	Boolean	✅ Yes	Must submit notice request	true
noticeSubmissionMethods[]	Array	No	How to submit	["Branch", "Mobile", "Online"]
allowPartialWithdrawal	Boolean	No	Can withdraw portion	true
minimumWithdrawalAmount	Decimal	No	Min withdrawal	100000
autoProcessOnNoticeExpiry	Boolean	No	Auto-credit funds	true

Immediate Withdrawal Configuration

Field Name	Data Type	Required	Description	Example
allowImmediateWithdrawal	Boolean	No	Permit without notice	true
immediatePenaltyType	Enum	No	Penalty method	"ForefeitInterest" or "PenaltyRate"
interestForefeitDays	Integer	No	Days of interest lost	90
penaltyRate	Decimal	No	% of interest as penalty	50

Additional Deposit Configuration

Field Name	Data Type	Required	Description	Example
allowAdditionalDeposits	Boolean	No	Can add funds	true
minimumAdditionalDeposit	Decimal	No	Min top-up amount	100000
additionalDepositResetNotice	Boolean	No	Reset notice on new deposit	false

Fees Configuration Section

Field Name	Data Type	Required	Description	Example
accountMaintenanceFee	Decimal	No	Monthly/quarterly fee	0
noticeSubmissionFee	Decimal	No	Fee to submit notice	0
immediateWithdrawalFee	Decimal	No	Fee for emergency withdrawal	5000

Eligibility Configuration Section

Field Name	Data Type	Required	Description	Example
minimumAge	Integer	No	Minimum age	21
allowCorporateAccounts	Boolean	No	Corporate accounts	true
allowIndividualAccounts	Boolean	No	Personal accounts	true
requiredDocuments[]	Array	✅ Yes	Mandatory documents	["ValidID", "BVN", "SourceOfFunds"]
kycLevel	Enum	No	Required KYC tier	"Tier2"

Notifications Configuration Section

Field Name	Data Type	Required	Description	Example
sendAccountOpeningConfirmation	Boolean	No	Confirm creation	true
sendNoticeConfirmation	Boolean	No	Confirm withdrawal notice	true
sendNoticeReminderBeforeExpiry	Boolean	No	Remind before funds ready	true
sendWithdrawalReadyNotification	Boolean	No	Alert when funds available	true
channels.sms	Boolean	No	Enable SMS	true
channels.email	Boolean	No	Enable email	true

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Complete Sample YAML Configuration

basicInfo:
  productCode: "CD-STANDARD-001"
  productName: "Standard Call Deposit"
  description: "Flexible notice-period deposit with competitive returns"
  isActive: true
  depositAccountType: "CallDeposit"
  lineOfBusiness: "Retail"
  currencyCode: "NGN"

depositAmountConfig:
  minimumInitialDeposit: 500000
  minimumBalance: 500000
  maximumAmount: 0  # Unlimited
  allowAdditionalDeposits: true

noticePeriodConfig:
  minimumNoticePeriodDays: 7
  maximumNoticePeriodDays: 90
  allowedNoticePeriods:
    - 7
    - 14
    - 30
    - 60
    - 90
  defaultNoticePeriod: 30

interestConfig:
  isEnabled: true
  calculationMethod: "DailyBalance"
  creditFrequency: "Monthly"
  compoundingFrequency: "Monthly"

noticeBasedRates:
  - noticePeriodDays: 7
    rate: 5.0
  - noticePeriodDays: 14
    rate: 6.0
  - noticePeriodDays: 30
    rate: 7.0
  - noticePeriodDays: 60
    rate: 8.5
  - noticePeriodDays: 90
    rate: 9.5

withdrawalNoticeConfig:
  requireFormalNotice: true
  noticeSubmissionMethods:
    - "Branch"
    - "Mobile"
    - "Online"
  allowPartialWithdrawal: true
  minimumWithdrawalAmount: 100000
  autoProcessOnNoticeExpiry: true

immediateWithdrawalConfig:
  allowImmediateWithdrawal: true
  immediatePenaltyType: "ForefeitInterest"
  interestForefeitDays: 90
  immediateFee: 5000

additionalDepositConfig:
  allowAdditionalDeposits: true
  minimumAdditionalDeposit: 100000
  additionalDepositResetNotice: false

fees:
  accountMaintenanceFee: 0
  noticeSubmissionFee: 0
  immediateWithdrawalFee: 5000

eligibilityConfig:
  minimumAge: 21
  allowCorporateAccounts: true
  allowIndividualAccounts: true
  requiredDocuments:
    - "ValidID"
    - "BVN"
    - "SourceOfFunds"
    - "ProofOfAddress"
  kycLevel: "Tier2"

notificationsConfig:
  sendAccountOpeningConfirmation: true
  sendNoticeConfirmation: true
  sendNoticeReminderBeforeExpiry: true
  sendWithdrawalReadyNotification: true
  channels:
    sms: true
    email: true
    push: true

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Use Cases & Examples

Example 1: 30-Day Notice Call Deposit

Scenario: Individual deposits ₦2,000,000 planning for medium-term liquidity.

Configuration:

deposit: ₦2,000,000
noticePeriod: 30 days
rate: 7% p.a.

Monthly Interest:

Daily Interest = ₦2M × 7% / 365 = ₦383.56
Monthly Interest ≈ ₦11,507
Annual Interest = ₦140,000

Withdrawal Process:

Day 0: Customer submits 30-day withdrawal notice
  Notification: "Withdrawal request received. Funds available on [Date]"
  
Day 1-29: Notice period (earning 7% daily)
  Status: NOTICE_ACTIVE
  Can cancel notice if needed
  
Day 30: Withdrawal auto-processed
  Funds credited to linked savings account
  SMS: "₦2,000,000 + interest credited to your account"

Example 2: Strategic Notice Period Selection

Scenario: Customer comparing different notice periods for ₦5,000,000.

Rate Comparison:

noticeBasedRates:
  7 days: 5.0%
  30 days: 7.0%
  90 days: 9.5%

Annual Returns:

₦5,000,000 Investment:

7-Day Notice (5%):
  Annual Interest: ₦250,000
  
30-Day Notice (7%):
  Annual Interest: ₦350,000
  Additional: ₦100,000 vs 7-day

90-Day Notice (9.5%):
  Annual Interest: ₦475,000
  Additional: ₦225,000 vs 7-day
  Additional: ₦125,000 vs 30-day

Decision Factors:
  - Liquidity needs (how soon might you need funds?)
  - Return preference (maximize interest vs flexibility)
  - Planning horizon (3 months vs 1 week notice acceptable?)

Example 3: Immediate Withdrawal Emergency

Scenario: Customer needs urgent access after 60 days without notice.

Original Setup:

deposit: ₦3,000,000
noticePeriod: 30 days
rate: 7%
daysHeld: 60

Immediate Withdrawal Penalty:

immediatePenaltyType: "ForefeitInterest"
interestForefeitDays: 90
immediateFee: ₦5,000

Calculation:

Interest Earned (60 days): ₦3M × 7% × (60/365) = ₦34,521

Penalty:
  Forfeit 90 days interest: ₦3M × 7% × (90/365) = ₦51,781
  Since only earned ₦34,521, forfeit entire amount
  Plus immediate withdrawal fee: ₦5,000
  
Receive: ₦3,000,000 (principal only, no interest)
Lost: ₦34,521 + ₦5,000 = ₦39,521

Alternative (Submit 30-Day Notice):
  Wait 30 days
  Receive: ₦3,000,000 + ₦51,781 (90 days interest)
  Better by ₦51,781!

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Notice Period Management

Submitting Withdrawal Notice

withdrawalNoticeConfig:
  noticeSubmissionMethods:
    - "Branch"
    - "Mobile"
    - "Online"

Process Flow:

1. Customer Initiation
   Via: Mobile app / Internet banking / Branch
   Input: Withdrawal amount, target account
   
2. System Validation
   - Verify minimum balance after withdrawal
   - Check notice period eligibility
   - Confirm no restrictions on account
   
3. Notice Activation
   Status: NOTICE_ACTIVE
   Start Date: Today
   Expiry Date: Today + Notice Period
   
4. Confirmation
   SMS: "Withdrawal notice submitted. ₦X will be available on [Date]"
   Email: Detailed notice confirmation
   
5. Reminder (1-2 days before)
   "Your withdrawal will be processed tomorrow"
   
6. Auto-Processing
   On expiry date: Funds auto-transferred
   Notification: "₦X + interest credited"

Cancelling Withdrawal Notice

Status: NOTICE_ACTIVE
Days Remaining: 15

Customer Action: Cancel notice
  Reason: No longer need funds
  
System Processing:
  - Cancel notice immediately
  - Restore full deposit status
  - Continue earning interest at original rate
  - Notification: "Withdrawal notice cancelled"
  
No Penalty: Cancellation is free

Modifying Withdrawal Notice

Original Notice:
  Amount: ₦1,000,000
  Days Remaining: 20
  
Modification Request:
  New Amount: ₦500,000 (reduce)
  
System Response:
  Option 1: Cancel and resubmit (resets 30-day clock)
  Option 2: Keep original notice, partial execution
  
Recommended: Option 2 (no time loss)

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Interest Rate Structure

Notice Period vs Rate

noticeBasedRates:
  7 days → 5.0%
  14 days → 6.0%
  30 days → 7.0%
  60 days → 8.5%
  90 days → 9.5%

Rate Logic:

Longer Notice = Higher Rate
  - Bank has certainty of fund availability
  - Can plan liquidity better
  - Rewards customer for commitment

Rate Increments:
  7 → 14 days: +1.0%
  14 → 30 days: +1.0%
  30 → 60 days: +1.5%
  60 → 90 days: +1.0%

Comparison to Other Products:
  Savings Account: 2-4%
  Call Deposit (30-day): 7%
  Fixed Deposit (90-day): 8%
  
Call Deposit advantage:
  - Higher than savings
  - Close to fixed deposit
  - More flexible than FD

Daily Balance Interest Calculation

calculationMethod: "DailyBalance"
creditFrequency: "Monthly"

Example:

Month of January:

Days 1-10: Balance ₦2,000,000
Days 11-20: Added ₦1,000,000 → Balance ₦3,000,000
Days 21-31: Balance ₦3,000,000

Interest Calculation:
  Days 1-10: ₦2M × 7% / 365 × 10 = ₦3,836
  Days 11-20: ₦3M × 7% / 365 × 10 = ₦5,753
  Days 21-31: ₦3M × 7% / 365 × 11 = ₦6,329
  
  Total January Interest: ₦15,918

Credited: End of January
New Balance: ₦3,015,918 (for February interest calculation)

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Immediate Withdrawal Penalties

Forfeit Interest Method

immediatePenaltyType: "ForefeitInterest"
interestForefeitDays: 90

How It Works:

Deposit: ₦1,000,000
Rate: 7%
Days Held: 45

Normal Withdrawal (with 30-day notice):
  Interest Earned: ₦1M × 7% × (75/365) = ₦14,384
  Receive: ₦1,014,384

Immediate Withdrawal:
  Interest Earned So Far: ₦1M × 7% × (45/365) = ₦8,630
  Forfeit: 90 days interest = ₦17,260
  Since earned < forfeit: Lose all ₦8,630
  Receive: ₦1,000,000 (principal only)

Penalty Cost: ₦14,384 (opportunity cost of proper notice)

Penalty Rate Method

immediatePenaltyType: "PenaltyRate"
penaltyRate: 50  # 50% of interest

Example:

Deposit: ₦2,000,000
Days Held: 60
Interest Earned: ₦23,014

Penalty:
  50% of interest: ₦11,507
  Plus immediate withdrawal fee: ₦5,000
  Total Penalty: ₦16,507
  
Net Interest: ₦23,014 - ₦16,507 = ₦6,507
Receive: ₦2,006,507

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Additional Deposits

additionalDepositConfig:
  allowAdditionalDeposits: true
  minimumAdditionalDeposit: ₦100,000
  additionalDepositResetNotice: false

Adding Funds:

Current Balance: ₦1,000,000 (30-day notice)
Additional Deposit: ₦500,000

Effect on Existing Notice:
  additionalDepositResetNotice: false
  
  Original ₦1M: Continues with 30-day notice, 7% rate
  New ₦500k: Immediately starts earning 7% (same rate)
  Active Notice: NOT affected
  
Benefit: Grow balance without resetting withdrawal plans

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Validation Rules

Notice Period Validation

Code Removed

Implementation details removed for security.

Contact support for implementation guidance.

Withdrawal Validation

Code Removed

Implementation details removed for security.

Contact support for implementation guidance.

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Troubleshooting

Issue: "Need funds urgently, can't wait for notice"

Cause: Emergency expense, no active notice.

Solutions:

Call Deposit: ₦1,500,000 (30-day notice required)
Need: Immediate access

Option 1: Immediate Withdrawal
  Penalty: Forfeit 90 days interest (₦34,521)
  Fee: ₦5,000
  Total Cost: ₦39,521
  Time: Same day

Option 2: Submit Notice Now
  Wait: 30 days
  Interest: Continue earning 7%
  Cost: Time (not immediate)
  
Option 3: Partial Immediate + Notice
  Withdraw: ₦500,000 immediately (penalty ₦11,507)
  Submit notice: ₦1,000,000 (available in 30 days)
  Hybrid approach: Some funds now, rest later

Issue: "Rate lower than fixed deposit"

Cause: Call deposit offers flexibility premium.

Comparison:

₦2,000,000 Investment:

Fixed Deposit (90 days): 8%
  Interest: ₦39,452
  Liquidity: ZERO (locked for 90 days)
  
Call Deposit (7-day notice): 5%
  Interest: ₦27,397 (same 90 days)
  Difference: -₦12,055
  Liquidity: HIGH (access in 7 days anytime)
  
Call Deposit (90-day notice): 9.5%
  Interest: ₦46,849
  Difference: +₦7,397 vs FD
  Liquidity: MEDIUM (90-day notice)
  
Choice depends on:
  - Likelihood of needing funds
  - Value of flexibility
  - Risk tolerance

Issue: "Forgot to submit notice, need funds in 2 weeks"

Cause: Poor planning.

Solutions:

Current: No active notice
Need funds: 14 days from now

Option 1: Submit 7-Day Notice Now
  Wait: 7 days
  Short by: 7 days
  Rate: 5% (lower than preferred 7%)
  Strategy: Use other funds for 7-day gap

Option 2: Submit 14-Day Notice
  Wait: 14 days
  Rate: 6%
  Exactly on time: ✅

Option 3: Immediate Withdrawal
  Available: Today
  Penalty: Heavy (forfeit interest)
  Last resort: Emergency only

Lesson: Plan withdrawals in advance!

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Migration from V1

V1 Call Deposit Mapping

V1 Field/Table	V2 YAML Path
MinimumDeposit	depositAmountConfig.minimumInitialDeposit
NoticePeriod	noticePeriodConfig.allowedNoticePeriods[]
InterestRate	noticeBasedRates[].rate
ImmediateWithdrawalPenalty	immediateWithdrawalConfig.interestForefeitDays
AllowAdditionalDeposits	additionalDepositConfig.allowAdditionalDeposits

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Last Updated: January 2, 2026
API Version: V2 (BPMCore)
Product Category: Deposit Products
Complexity: ⭐⭐⭐ (Moderate - Notice Management)