Add Interest Rate Tier

  • Add interestRateTiers to existing primary and savings purses
    This endpoint allows Partners to add interestRateTiers to existing primary and savings purses.

How it works:

  • To successfully add an interest rate tier to an existing purse, call POST /purses/{purseIdentifier}/interestRateTiers and include the interestRateTier you would like to add to the purse.
  • A response containing the interestRateTierIdentifier, interestRateTier, interestYieldStartDate and the Annual Percentage Yield (APY) will be returned.
  • The interestYieldStartDate will be set to the current date, if you are adding an interestRateTier to the purse for the first time.
  • If the purse already has an interestRateTier applied, then the interestYieldStartDate will be set to the next anniversary of the billing cycle.
  • Note: The next anniversary of the billing cycle will be returned as the accountCycleDay in the POST /enrollments, GET /accounts, and GET /enrollments endpoint responses. Set or Auto Align the interestYieldStartDate
  • Align interestYieldStartDate when adding an Interest Rate Tier to an existing purse:
    • Call POST …/accounts/{accountIdentifier}/purses/{purseIdentifier}/interestRateTiers with an interestYieldStartDate (optional).
    • If the autoAlignStartDate is true, the interestYieldStartDate is set to start on the next accountCycleDay (Bill Cycle Date).
    • Notes:
      • If the interestYieldStartDate is not provided, the accountCycleDay will be on or after the current date of the request.
      • If applicable - The interestYieldEndDate of the previous Interest Rate Tier on the purse is automatically set to the day before the new Interest Rate Tier’s interestYieldStartDate.
      • Set interestYieldStartDate when adding initial (first) Interest Rate Tier to an existing purse:
    • Call POST …/accounts/{accountIdentifier}/purses/{purseIdentifier}/interestRateTiers with an interestYieldStartDate (optional).
    • If the purse does not have an interestRateTier applied to it and:
      • The autoAlignStartDate is false
      • The interestYieldStartDate is the current date of the request or after
    • The interestYieldStartDate is set to the date provided in the request.
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