Savings account applications must be created and approved before clients can deposit or withdraw money.

Prerequisites

• The client must be activated
• Log in to Symba Microbanking with a user account that is authorized to create savings account applications

Steps

• Navigate to the client's profile page
• Click on the "Savings" tab
• Click the "Add Savings Account" button
• Select the savings product from the dropdown
• Fill in the required fields:
  • Submitted on date
  • Field officer (if applicable)
  • External ID (optional)
• Review and adjust any product-specific settings:
  • Lock-in Period: Sets a duration during which withdrawals are blocked after the account is activated. Specify the frequency (a number) and the type (Days, Weeks, Months, or Years). For example, a lock-in period of 3 Months means the client cannot make any withdrawals for the first 3 months after activation. Once the lock-in period expires, withdrawals proceed normally. If left blank, no lock-in period applies.
  • Apply Withdrawal Fee for Transfers: When enabled, withdrawal fees configured on the account will be charged as an additional debit from this account when funds are transferred to another account (e.g., to another savings account or to repay a loan). When disabled, transfers do not incur withdrawal fees, though regular withdrawals will still be charged. This setting cannot be modified after the account is approved.
• Click "Submit" to create the application

The savings account application is now created with "Submitted and pending approval" status.

Next steps

• Approve the savings account

Related Topics

• Clients
• Approving savings accounts
• Activating savings accounts