# Create interest plan

Create an interest plan configuration that defines how the platform calculates interest accrual. After it's created, you can apply the interest plan to a specific product or account. For example, you can provide the `interest_plan_id` when creating a [deposit product](ref:interest-bearing-v1-create-deposit-product), when creating a [savings account](ref:interest-bearing-v1-create-savings-account-product), or when [depositing money](ref:post-v1-interest-deposit) into an account.

This endpoint generates an [Interest plan creation succeeded](https://developers.pismo.io/events/docs/interest-engine-interest-plan-creation-success-1) event.

For more information, refer to the [Interest-bearing accounts](doc:interest-bearing-accounts) guide.


# OpenAPI definition

```json
{
  "openapi": "3.1.0",
  "info": {
    "title": "Banking - Interest engine",
    "version": "1.0.0",
    "description": "API to handle interest-bearing account operations",
    "termsOfService": "https://developers.pismo.io/terms/",
    "contact": {
      "name": "API Support",
      "url": "https://developers.pismolabs.io/pismo-docs/docs/support"
    },
    "license": {
      "name": "Copyright Pismo"
    }
  },
  "servers": [
    {
      "url": "https://sandbox.pismolabs.io/interest-engine",
      "description": "Sandbox API server for testing"
    },
    {
      "url": "https://sandbox.pismolabs.io/passport/v2/s2s/access-token",
      "description": "Sandbox API for oauth2"
    }
  ],
  "tags": [
    {
      "name": "Interest engine",
      "description": "Manage interest plans"
    }
  ],
  "components": {
    "parameters": {
      "Authorization": {
        "name": "authorization",
        "in": "header",
        "description": "Authorization",
        "required": true,
        "example": "Bearer YOUR_BEARER_TOKEN",
        "schema": {
          "type": "string"
        }
      },
      "ContentType": {
        "name": "content-type",
        "in": "header",
        "description": "Content type",
        "required": true,
        "example": "application/json",
        "schema": {
          "type": "string"
        }
      }
    },
    "schemas": {
      "AccrualBasis": {
        "type": "string",
        "description": "Method used to calculate interest accrual.\n  * `BD/252`: Calculates daily interest using a 252-day year and the actual number of business days in each time period.\n  * `ACTUAL/360`: Calculates daily interest using a 360-day year and the actual number of days in each time period.\n  * `ACTUAL/365`: Calculates daily interest using a 365-day year and the actual number of days in each time period.\n  * `ACTUAL/ACTUAL`: Calculates daily interest using the actual number of days in the year (which in the leap year is 366) and the actual number of days in each time period.\n",
        "enum": [
          "BD/252",
          "ACTUAL/360",
          "ACTUAL/365",
          "ACTUAL/ACTUAL"
        ],
        "example": "ACTUAL/365"
      },
      "AccrualFrequency": {
        "type": "string",
        "description": "Interest accrual frequency",
        "enum": [
          "DAILY",
          "MONTHLY",
          "QUARTERLY",
          "HALF_YEARLY",
          "YEARLY",
          "MATURITY"
        ],
        "example": "DAILY"
      },
      "Amount": {
        "type": "number",
        "format": "double",
        "description": "Amount in the `interest_by_tier`",
        "example": 1000
      },
      "Benchmark": {
        "type": "string",
        "description": "Market index used to measure interest value over time. For fixed interest, this field must be null.\n  - `BOE`: Bank of England, UK\n  - `DI`: Interbank Deposit Contract, Brazil\n  - `FED`: Federal Reserve System, USA\n  - `RBA`: Reserve Bank of Australia\n  - `RBI`: Reserve Bank of India\n  - `TO`: Overnight Interbank Target Rate (Tasa Objetivo), Mexico\n",
        "enum": [
          "BOE",
          "DI",
          "FED",
          "RBA",
          "RBI",
          "TO"
        ],
        "example": "FED"
      },
      "CapEffectiveRate": {
        "type": "number",
        "format": "double",
        "description": "Cap effective rate. If you provide a value for `cap_effective_rate`, you must also provide a value for `cap_threshold`.",
        "example": 1.2
      },
      "CapitalizationFrequency": {
        "type": "string",
        "description": "Interest payout frequency",
        "enum": [
          "DAILY",
          "MONTHLY",
          "QUARTERLY",
          "HALF_YEARLY",
          "YEARLY",
          "MATURITY"
        ],
        "example": "DAILY"
      },
      "CapThreshold": {
        "type": "number",
        "format": "double",
        "description": "Cap threshold value. If you provide a value for `cap_threshold`, you must also provide a value for `cap_effective_rate`.",
        "example": 1.1
      },
      "CurrencyCode": {
        "type": "string",
        "format": "number",
        "description": "Numeric currency code in ISO 4217 standard",
        "example": "986"
      },
      "Days": {
        "type": "integer",
        "format": "int32",
        "description": "Number of days in `interest_by_tier`",
        "example": 30
      },
      "Description": {
        "type": "string",
        "description": "Interest plan name",
        "example": "Banking plan"
      },
      "DivisionId": {
        "type": "string",
        "description": "Division ID attached to the interest plan for accrual by division",
        "example": "d9b2c9e1-4633-4a10-841b-270f7f1493cd"
      },
      "FeeProcessingCode": {
        "type": "string",
        "format": "number",
        "description": "Processing code configured in the [fee model](https://developers.pismo.io/pismo-docs/docs/fee-model) for charging a tax, penalty, or fee.",
        "example": "001100"
      },
      "FixedInterestRate": {
        "type": "number",
        "format": "float",
        "description": "Fixed annual interest rate for investments or deposits. If a `benchmark` value is provided, this field must be null.",
        "example": 0.1
      },
      "FloorEffectiveRate": {
        "type": "number",
        "format": "double",
        "description": "Floor effective rate",
        "example": 2.2
      },
      "FloorThreshold": {
        "type": "number",
        "format": "double",
        "description": "Floor threshold value",
        "example": 2.1
      },
      "InterestByTiers": {
        "type": "object",
        "properties": {
          "type": {
            "$ref": "#/components/schemas/InterestByTiersType"
          },
          "tier_calculation": {
            "$ref": "#/components/schemas/TierCalculation"
          },
          "tiers": {
            "type": "array",
            "items": {
              "$ref": "#/components/schemas/InterestByTiersArrayObject"
            }
          }
        },
        "required": [
          "type",
          "tier_calculation",
          "tiers"
        ],
        "description": "Interest by tiers configuration",
        "example": {
          "type": "TERM",
          "tier_calculation": "RETROACTIVE",
          "tiers": [
            {
              "days": 30,
              "amount": 1000,
              "margin_rate": 1,
              "fixed_interest_rate": 1.2
            },
            {
              "days": 60,
              "amount": 2000,
              "margin_rate": 1,
              "fixed_interest_rate": 1.3
            }
          ]
        }
      },
      "InterestByTiersArrayObject": {
        "type": "object",
        "properties": {
          "days": {
            "$ref": "#/components/schemas/Days"
          },
          "amount": {
            "$ref": "#/components/schemas/Amount"
          },
          "margin_rate": {
            "$ref": "#/components/schemas/MarginRate"
          },
          "fixed_interest_rate": {
            "$ref": "#/components/schemas/FixedInterestRate"
          }
        },
        "description": "Tier details for interest calculation"
      },
      "InterestByTiersType": {
        "type": "string",
        "description": "Interest type\n- `TERM`: Interest rate varies according to the period of time since the deposit was made.\n- `AMOUNT`: Interest rate varies according to the current balance.\n",
        "enum": [
          "TERM",
          "AMOUNT"
        ],
        "example": "TERM"
      },
      "InterestPlanId": {
        "type": "string",
        "format": "UUID",
        "description": "Interest plan ID generated during the plan's creation. Must be an alphanumeric UUID with the alphabetical characters in lowercase.",
        "example": "07d84f79-3027-47bd-b628-65528ccc8fb2"
      },
      "InterestPlanRequest": {
        "title": "Interest plan request",
        "type": "object",
        "properties": {
          "accrual_basis": {
            "$ref": "#/components/schemas/AccrualBasis"
          },
          "accrual_frequency": {
            "$ref": "#/components/schemas/AccrualFrequency"
          },
          "capitalization_frequency": {
            "$ref": "#/components/schemas/CapitalizationFrequency"
          },
          "currency_code": {
            "$ref": "#/components/schemas/CurrencyCode"
          },
          "description": {
            "$ref": "#/components/schemas/Description"
          },
          "interest_type": {
            "$ref": "#/components/schemas/InterestType"
          },
          "benchmark": {
            "$ref": "#/components/schemas/Benchmark"
          },
          "fee_processing_code": {
            "$ref": "#/components/schemas/FeeProcessingCode"
          },
          "fixed_interest_rate": {
            "$ref": "#/components/schemas/FixedInterestRate"
          },
          "margin": {
            "$ref": "#/components/schemas/Margin"
          },
          "margin_rate": {
            "$ref": "#/components/schemas/MarginRate"
          },
          "start_date": {
            "$ref": "#/components/schemas/PlanStartDate"
          },
          "division_id": {
            "$ref": "#/components/schemas/DivisionId"
          },
          "interest_by_tiers": {
            "$ref": "#/components/schemas/InterestByTiers"
          },
          "interest_thresholds": {
            "$ref": "#/components/schemas/InterestThresholds"
          }
        },
        "required": [
          "accrual_basis",
          "accrual_frequency",
          "capitalization_frequency",
          "currency_code",
          "description",
          "interest_type"
        ],
        "example": {
          "accrual_basis": "ACTUAL/365",
          "accrual_frequency": "DAILY",
          "capitalization_frequency": "DAILY",
          "currency_code": "986",
          "description": "BANKING PLAN",
          "interest_type": "COMPOUND",
          "benchmark": "FED",
          "fee_processing_code": "001100",
          "margin": 0.05,
          "margin_rate": 1.2
        }
      },
      "InterestPlanResponse": {
        "title": "Org parameters response",
        "type": "object",
        "properties": {
          "interest_plan_id": {
            "$ref": "#/components/schemas/InterestPlanId"
          }
        }
      },
      "InterestThresholds": {
        "type": "object",
        "properties": {
          "cap_threshold": {
            "$ref": "#/components/schemas/CapThreshold"
          },
          "cap_effective_rate": {
            "$ref": "#/components/schemas/CapEffectiveRate"
          },
          "floor_threshold": {
            "$ref": "#/components/schemas/FloorThreshold"
          },
          "floor_effective_rate": {
            "$ref": "#/components/schemas/FloorEffectiveRate"
          }
        },
        "description": "Cap and floor thresholds for the interest plan",
        "example": {
          "interest_thresholds": {
            "cap_threshold": 1.1,
            "cap_effective_rate": 1.2,
            "floor_threshold": 2.2,
            "floor_effective_rate": 2.1
          }
        }
      },
      "InterestType": {
        "type": "string",
        "description": "Interest calculation type\n- `SIMPLE`: Calculated on the original deposit or investment value.\n- `COMPOUND`: Calculated on the original value plus the last accumulated interest.\n",
        "enum": [
          "SIMPLE",
          "COMPOUND"
        ],
        "example": "SIMPLE"
      },
      "Margin": {
        "type": "number",
        "format": "double",
        "description": "Also known as a spread, this is an incremental rate the clients receive on investments or deposits. \nIf a `benchmark` value is provided, this field is optional.\nIf `benchmark` is null, this field must be null also.\n",
        "example": 0.02
      },
      "MarginRate": {
        "type": "number",
        "format": "double",
        "description": "Rate linked to the benchmark rate. For example, for 110% FED, margin rate is 110%. If a `benchmark` value is not provided, this field must be null.",
        "example": 1.1
      },
      "PlanStartDate": {
        "type": "string",
        "format": "date",
        "description": "Date to start applying the interest plan. Format = YYYY-MM-DD.",
        "example": "2025-06-17"
      },
      "TierCalculation": {
        "type": "string",
        "description": "Tier calculation method\n- `RETROACTIVE`: Interest is recalculated from the beginning based on the new applicable rate.\n- `NON-RETROACTIVE`: Interest is calculated progressively based on each layer rate.\n",
        "enum": [
          "RETROACTIVE",
          "NON-RETROACTIVE"
        ],
        "example": "RETROACTIVE"
      }
    },
    "securitySchemes": {
      "BearerAuth": {
        "type": "http",
        "scheme": "bearer",
        "bearerFormat": "JWT"
      }
    },
    "responses": {
      "400BadRequest": {
        "description": "Bad request"
      },
      "401Unauthorized": {
        "description": "Unauthorized"
      },
      "404NotFound": {
        "description": "Not found"
      },
      "500InternalServerError": {
        "description": "Internal server error"
      }
    }
  },
  "security": [
    {
      "BearerAuth": []
    }
  ],
  "paths": {
    "/v1/interest/plan": {
      "post": {
        "summary": "Create interest plan",
        "description": "Create an interest plan configuration that defines how the platform calculates interest accrual. After it's created, you can apply the interest plan to a specific product or account. For example, you can provide the `interest_plan_id` when creating a [deposit product](https://developers.pismo.io/pismo-docs/reference/interest-bearing-v1-create-deposit-product), when creating a [savings account](https://developers.pismo.io/pismo-docs/reference/interest-bearing-v1-create-savings-account-product), or when [depositing money](https://developers.pismo.io/pismo-docs/reference/post-v1-interest-deposit) into an account.\n\nThis endpoint generates an [Interest plan creation succeeded](https://developers.pismo.io/events/docs/interest-engine-interest-plan-creation-success-1) event.\n\nFor more information, refer to the [Interest-bearing accounts](https://developers.pismo.io/pismo-docs/docs/interest-bearing-accounts) guide.\n",
        "tags": [
          "Interest engine"
        ],
        "operationId": "post-v1-interest-plan",
        "parameters": [
          {
            "$ref": "#/components/parameters/Authorization"
          },
          {
            "$ref": "#/components/parameters/ContentType"
          }
        ],
        "requestBody": {
          "description": "Request body",
          "required": true,
          "content": {
            "application/json": {
              "schema": {
                "$ref": "#/components/schemas/InterestPlanRequest"
              }
            }
          }
        },
        "responses": {
          "200": {
            "description": "OK",
            "content": {
              "application/json": {
                "schema": {
                  "$ref": "#/components/schemas/InterestPlanResponse"
                }
              }
            }
          },
          "400": {
            "$ref": "#/components/responses/400BadRequest"
          },
          "401": {
            "$ref": "#/components/responses/401Unauthorized"
          },
          "404": {
            "$ref": "#/components/responses/404NotFound"
          },
          "500": {
            "$ref": "#/components/responses/500InternalServerError"
          }
        }
      }
    }
  }
}
```