Documentation

GSIM (Group Savings with Individual Monitoring)

GSIM (Group Savings with Individual Monitoring) is a savings account structure designed for groups where each member has their own individual savings account, but all accounts are linked under a parent GSIM account. This allows groups to track individual member savings while maintaining a consolidated view.

How GSIM Works

GSIM creates a parent-child relationship between savings accounts:

  • Parent GSIM Account: A container that groups all member accounts together
  • Child Savings Accounts: Individual savings accounts, one for each group member

All child accounts share the same product, terms, and interest rates, but maintain separate balances.

When to Use GSIM

Use GSIM when:

  • ✅ Group members want individual savings accounts with personal tracking
  • ✅ You need to track each member's contribution and balance separately
  • ✅ Members want to withdraw or deposit independently
  • ✅ Individual accountability is important for group dynamics
  • ✅ You want consolidated reporting with member-level details

Use Standard Group Savings when:

  • ✅ The group operates as a single financial unit
  • ✅ All transactions require group consensus
  • ✅ Individual tracking is not necessary
  • ✅ Simpler structure is preferred

Key Features

  • Individual Account Numbers: Each member gets their own unique account number (derived from parent account)
  • Synchronized Product Terms: All accounts use the same savings product and terms
  • Bulk Operations: Create, approve, and activate all member accounts in one operation
  • Consolidated View: View all member accounts and balances in one place
  • Group Deposits: Option to distribute group deposits across member accounts
  • Individual Transactions: Members can deposit and withdraw from their own accounts

Getting Started with GSIM

  1. Creating GSIM Accounts - Step-by-step guide to create GSIM accounts for a group
  2. Viewing GSIM Accounts - How to view and manage GSIM accounts

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