# Add a savings account product

You can add a savings account product from Pismo Control Center. A savings account is an interest-bearing account that earns interest on deposited funds. With savings account products such as variable-rate savings accounts or money market accounts, your customer has the flexibility to withdraw money at any time without penalty. Savings accounts generally have lower interest rates than time deposit accounts.

When you add a savings account product, the interest plan that you want to use must already exist on the Pismo platform. For more information, refer to [Interest plans](https://developers.pismo.io/pismo-docs/docs/interest-plans-in-control-center).

> 📘
>
> You must contact your Pismo representative for assistance with setting up interest-bearing accounts.

To add a savings account product:

1. From the main menu, select **Configurations** > **Deposit products**.
2. On the **Deposit products** screen, select **Create**.
3. On the **Select Deposit product type** screen, select **Savings account** and select **Next**.
4. On the **Create your savings account product** screen, enter a descriptive name for the product in the **Name** field.
5. In the **Interest plan** menu, select the interest plan that you want to use and select **Next**.
6. On the **Attach processing codes** screen, enter the processing codes (by name or by ID) to be used in the following cases:
   1. **Interest processing code**—used for crediting accrued interest to this product.
   2. (Optional) **Withholding tax processing code**—used for calculating tax withholding for this product.
7. Select **Next**.
8. On the **Review** screen, verify that the information you provided is correct, then select **Finish**.

> 📘 Activate the deposit product
>
> A deposit product is created with the initial status **Created**, but can't be used until it is activated. To activate a deposit product:
>
> 1. On the **Deposit products** screen, select the deposit product.
> 2. On the details screen, select the **Created** button and choose **Active**. (This button could also be labeled **Inactive**.)
> 3. In the **Update status** dialog, enter a reason for the change and then select **Yes**.