Target Savings - V2 Configuration

Product Type: Goal-Based Savings with Gamification
Use Case: Structured savings for specific goals with rewards
Minimum Amount: ₦10,000 - ₦50,000 per month
Goal Period: 3-60 months
Interest Rate: Base 4% + Performance Bonus (up to +6%)

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Overview

Target Savings is a gamified goal-oriented savings product that helps customers save systematically toward specific objectives (emergency fund, education, vacation, home purchase). Features milestone tracking, performance bonuses, achievement badges, and automated saving tools.

Key Features

• Goal Definition: Set target amount and deadline
• Milestone Tracking: 25%, 50%, 75%, 100% progress rewards
• Performance Bonuses: Up to +6% for on-time deposits
• Auto-Debit: Automatic monthly contributions
• Round-Up Savings: Round transactions to nearest ₦100
• Gamification: Badges, certificates, achievement unlocks
• Flexible Contributions: Add extra anytime
• Partial Withdrawals: Limited, with conditions

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YAML Field Reference

Basic Information Section

Field Name	Data Type	Required	Description	Example
productCode	String	✅ Yes	Unique product code	"TS-GENERAL-001"
productName	String	✅ Yes	Display name	"Target Savings"
description	String	No	Product description	"Goal-based savings with rewards"
isActive	Boolean	No	Product status	true
depositAccountType	String	✅ Yes	Account type	"TargetSavings"
lineOfBusiness	Enum	No	Business classification	"Retail"

Goal Configuration Section

Field Name	Data Type	Required	Description	Example
minimumTargetAmount	Decimal	✅ Yes	Minimum goal	100000
maximumTargetAmount	Decimal	No	Maximum goal	50000000
minimumGoalPeriodMonths	Integer	✅ Yes	Shortest duration	3
maximumGoalPeriodMonths	Integer	✅ Yes	Longest duration	60
allowGoalExtension	Boolean	No	Can extend deadline	true
extensionPenalty	Decimal	No	Penalty for extension	0

Monthly Contribution Configuration

Field Name	Data Type	Required	Description	Example
minimumMonthlyContribution	Decimal	✅ Yes	Minimum per month	10000
maximumMonthlyContribution	Decimal	No	Maximum per month	0
allowVariableContributions	Boolean	No	Can vary monthly amount	true
allowAdditionalDeposits	Boolean	No	Extra deposits anytime	true

Interest Rate Configuration

Field Name	Data Type	Required	Description	Example
baseRate	Decimal	✅ Yes	Base interest rate	4.0
calculationMethod	Enum	✅ Yes	Calculation approach	"DailyBalance"
creditFrequency	Enum	✅ Yes	When interest is paid	"Monthly" or "Maturity"

Performance Bonus Configuration

Field Name	Data Type	Required	Description	Example
enablePerformanceBonus	Boolean	No	Reward on-time deposits	true
bonusCalculationBasis	Enum	No	How to calculate bonus	"OnTimeDepositRate"
maximumBonusRate	Decimal	No	Max bonus rate	6.0
missedDepositPenalty	Decimal	No	Penalty for missed deposit	0.5

Performance Bonus Tiers:

performanceTiers:
  - onTimeRate: 100    # 100% deposits on time
    bonusRate: 6.0     # +6% bonus
  - onTimeRate: 90     # 90-99% on time
    bonusRate: 4.0     # +4% bonus
  - onTimeRate: 80     # 80-89% on time
    bonusRate: 2.0     # +2% bonus
  - onTimeRate: 70     # 70-79% on time
    bonusRate: 1.0     # +1% bonus

Milestone Rewards Configuration

Field Name	Data Type	Required	Description	Example
enableMilestones	Boolean	No	Track milestone progress	true
milestones[]	Array	No	Milestone definitions	See below

Milestone Structure:

milestones:
  - progressPercentage: 25
    rewardType: "Badge"
    rewardValue: "Quarter Goal Badge"
    cashBonus: 0
  - progressPercentage: 50
    rewardType: "CashBonus"
    rewardValue: "Halfway Achievement"
    cashBonus: 5000
  - progressPercentage: 75
    rewardType: "Badge"
    rewardValue: "Three-Quarter Champion"
    cashBonus: 0
  - progressPercentage: 100
    rewardType: "Certificate"
    rewardValue: "Goal Achieved Certificate"
    cashBonus: 10000

Auto-Debit Configuration

Field Name	Data Type	Required	Description	Example
enableAutoDebit	Boolean	No	Automatic contributions	true
autoDebitSourceAccount	String	No	Debit from account	"PrimarySavings"
autoDebitDay	Integer	No	Day of month	5
autoDebitRetryAttempts	Integer	No	Retry on failure	3
autoDebitFailureAction	Enum	No	Action on failure	"NotifyCustomer"

Round-Up Savings Configuration

Field Name	Data Type	Required	Description	Example
enableRoundUp	Boolean	No	Round-up transactions	true
roundUpTarget	Decimal	✅ If enabled	Round to amount	100
roundUpSourceAccounts[]	Array	No	Which accounts	["CurrentAccount"]
roundUpMaxPerTransaction	Decimal	No	Max per transaction	100

Withdrawal Configuration

Field Name	Data Type	Required	Description	Example
allowPartialWithdrawal	Boolean	No	Permit withdrawals	false
partialWithdrawalLimit	Decimal	No	Max withdrawal %	20
withdrawalPenalty	Decimal	No	Penalty %	5
minimumBalanceAfterWithdrawal	Decimal	No	Remaining minimum	50000

Gamification Configuration

Field Name	Data Type	Required	Description	Example
enableBadges	Boolean	No	Award badges	true
enableLeaderboard	Boolean	No	Public leaderboard	false
enableStreakTracking	Boolean	No	Track consecutive deposits	true
streakBonusRate	Decimal	No	Bonus for streaks	0.5

Fees Configuration Section

Field Name	Data Type	Required	Description	Example
goalSetupFee	Decimal	No	One-time setup	0
monthlyMaintenanceFee	Decimal	No	Monthly fee	0
earlyLiquidationFee	Decimal	No	Close before goal	2500

Eligibility Configuration Section

Field Name	Data Type	Required	Description	Example
minimumAge	Integer	No	Minimum age	18
allowCorporateAccounts	Boolean	No	Corporate accounts	false
allowIndividualAccounts	Boolean	No	Personal accounts	true
requiredDocuments[]	Array	✅ Yes	Mandatory documents	["ValidID", "BVN"]
kycLevel	Enum	No	Required KYC tier	"Tier1"

Notifications Configuration Section

Field Name	Data Type	Required	Description	Example
sendGoalCreationConfirmation	Boolean	No	Confirm goal setup	true
sendMonthlyProgressReport	Boolean	No	Monthly progress	true
sendMilestoneAchievementNotification	Boolean	No	Alert on milestone	true
sendAutoDebitReminder	Boolean	No	Remind before auto-debit	true
sendGoalCompletionCertificate	Boolean	No	Email certificate	true

---

Complete Sample YAML Configuration

basicInfo:
  productCode: "TS-GENERAL-001"
  productName: "Target Savings"
  description: "Achieve your financial goals with structured saving"
  isActive: true
  depositAccountType: "TargetSavings"
  lineOfBusiness: "Retail"
  currencyCode: "NGN"

goalConfig:
  minimumTargetAmount: 100000
  maximumTargetAmount: 50000000
  minimumGoalPeriodMonths: 3
  maximumGoalPeriodMonths: 60
  allowGoalExtension: true
  extensionPenalty: 0

monthlyContributionConfig:
  minimumMonthlyContribution: 10000
  maximumMonthlyContribution: 0  # Unlimited
  allowVariableContributions: true
  allowAdditionalDeposits: true

interestConfig:
  baseRate: 4.0
  calculationMethod: "DailyBalance"
  creditFrequency: "Maturity"

performanceBonusConfig:
  enablePerformanceBonus: true
  bonusCalculationBasis: "OnTimeDepositRate"
  maximumBonusRate: 6.0
  missedDepositPenalty: 0.5
  performanceTiers:
    - onTimeRate: 100
      bonusRate: 6.0
    - onTimeRate: 90
      bonusRate: 4.0
    - onTimeRate: 80
      bonusRate: 2.0
    - onTimeRate: 70
      bonusRate: 1.0

milestoneRewardsConfig:
  enableMilestones: true
  milestones:
    - progressPercentage: 25
      rewardType: "Badge"
      rewardValue: "Quarter Goal Achievement"
      cashBonus: 0
    - progressPercentage: 50
      rewardType: "CashBonus"
      rewardValue: "Halfway Hero"
      cashBonus: 5000
    - progressPercentage: 75
      rewardType: "Badge"
      rewardValue: "Almost There Champion"
      cashBonus: 0
    - progressPercentage: 100
      rewardType: "Certificate"
      rewardValue: "Goal Achieved Certificate + Voucher"
      cashBonus: 10000

autoDebitConfig:
  enableAutoDebit: true
  autoDebitSourceAccount: "PrimarySavings"
  autoDebitDay: 5
  autoDebitRetryAttempts: 3
  autoDebitFailureAction: "NotifyCustomer"

roundUpSavingsConfig:
  enableRoundUp: true
  roundUpTarget: 100
  roundUpSourceAccounts:
    - "CurrentAccount"
    - "PrimarySavings"
  roundUpMaxPerTransaction: 100

withdrawalConfig:
  allowPartialWithdrawal: false
  partialWithdrawalLimit: 0
  withdrawalPenalty: 5
  minimumBalanceAfterWithdrawal: 0

gamificationConfig:
  enableBadges: true
  enableLeaderboard: false
  enableStreakTracking: true
  streakBonusRate: 0.5  # +0.5% per 6-month streak

fees:
  goalSetupFee: 0
  monthlyMaintenanceFee: 0
  earlyLiquidationFee: 2500

eligibilityConfig:
  minimumAge: 18
  allowCorporateAccounts: false
  allowIndividualAccounts: true
  requiredDocuments:
    - "ValidID"
    - "BVN"
  kycLevel: "Tier1"

notificationsConfig:
  sendGoalCreationConfirmation: true
  sendMonthlyProgressReport: true
  sendMilestoneAchievementNotification: true
  sendAutoDebitReminder: true
  sendGoalCompletionCertificate: true
  channels:
    sms: true
    email: true
    push: true

---

Use Cases & Examples

Example 1: Emergency Fund Target (12 Months)

Goal: Build ₦500,000 emergency fund in 12 months.

Configuration:

targetAmount: ₦500,000
goalPeriod: 12 months
monthlyContribution: ₦42,000
baseRate: 4%
performanceBonus: Up to +6%

Monthly Plan:

Required Monthly: ₦41,667
Recommended: ₦42,000 (buffer for rounding)

Auto-Debit Schedule:
  5th of each month: ₦42,000 from savings
  Notification 2 days before
  
Progress Tracking:
  Month 3 (25%): Badge + Progress Report
  Month 6 (50%): ₦5,000 cash bonus + Badge
  Month 9 (75%): Badge + Motivation message
  Month 12 (100%): Certificate + ₦10,000 bonus

Final Outcome:

Total Deposits: ₦504,000 (12 × ₦42,000)
Base Interest (4%): ₦10,080 (average balance ₦252k)
Performance Bonus (6%): ₦15,120 (100% on-time)
Milestone Bonuses: ₦15,000
Total Interest + Bonuses: ₦40,200

Final Balance: ₦544,200
Goal Achieved: ✅
Exceeded Target By: ₦44,200

Example 2: Education Savings (36 Months)

Goal: Save ₦2,000,000 for child's university in 3 years.

Configuration:

targetAmount: ₦2,000,000
goalPeriod: 36 months
monthlyContribution: ₦56,000
allowAdditionalDeposits: true

Contribution Strategy:

Month 1-12: ₦56,000/month = ₦672,000
Month 13-24: ₦56,000 + bonuses = ₦700,000
Month 25-36: ₦56,000 + windfalls = ₦750,000

Additional Deposits:
  Birthday gifts: ₦50,000
  Tax refund: ₦100,000
  Bonuses: Variable
  
Round-Up Savings:
  Current account transactions rounded to ₦100
  ~₦30/transaction × 50 trans/month = ₦1,500/month
  Annual round-ups: ₦18,000

Performance Tracking:

On-Time Deposits:
  Year 1: 12/12 (100%) → +6% bonus
  Year 2: 11/12 (92%) → +4% bonus (missed 1 month)
  Year 3: 12/12 (100%) → +6% bonus
  
Average Performance: 97% → +5% effective bonus

Milestones:
  ₦500,000 (25%): Badge
  ₦1,000,000 (50%): ₦5,000 bonus
  ₦1,500,000 (75%): Badge
  ₦2,000,000 (100%): Certificate + ₦10,000

Streak Bonuses:
  6-month streak: +0.5%
  12-month streak: +1.0%
  18-month streak: +1.5%

Final Outcome:

Total Contributions: ₦2,016,000
Round-Up Savings: ₦54,000
Additional Deposits: ₦150,000
Total Principal: ₦2,220,000

Base Interest (4%): ₦133,200
Performance Bonus (5% avg): ₦166,500
Streak Bonus (1.5%): ₦49,950
Milestone Bonuses: ₦15,000
Total Interest + Bonuses: ₦364,650

Final Balance: ₦2,584,650
Goal Exceeded By: ₦584,650 (29% surplus!)

Example 3: Vacation Fund with Variable Contributions

Goal: Save ₦300,000 for family vacation in 10 months.

Configuration:

targetAmount: ₦300,000
goalPeriod: 10 months
minimumMonthlyContribution: ₦10,000
allowVariableContributions: true

Variable Contribution Plan:

Month 1-5 (Lean months): ₦25,000/month = ₦125,000
Month 6 (Bonus month): ₦75,000
Month 7-9 (Normal): ₦30,000/month = ₦90,000
Month 10 (Final push): ₦40,000

Total: ₦330,000 (₦30,000 buffer)

Performance Impact:

All deposits made on time: 10/10 (100%)
Performance Bonus: +6%

Base Rate: 4%
Bonus Rate: +6%
Effective Rate: 10%

Interest Calculation:
  Average Balance: ₦165,000
  Period: 10 months
  Interest: ₦165k × 10% × (10/12) = ₦13,750
  
Milestone Bonuses:
  50% (₦150k): ₦5,000
  100% (₦300k): ₦10,000
  Total: ₦15,000

Final Balance: ₦330,000 + ₦13,750 + ₦15,000 = ₦358,750
Vacation Budget: ₦358,750 (₦58,750 extra for upgrades!)

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Performance Bonus System

On-Time Deposit Tracking

performanceBonusConfig:
  bonusCalculationBasis: "OnTimeDepositRate"

Calculation:

Goal: ₦600,000 in 12 months
Monthly: ₦50,000

Deposit Schedule:
  ✅ Jan 5: ₦50,000 (on time)
  ✅ Feb 5: ₦50,000 (on time)
  ✅ Mar 5: ₦50,000 (on time)
  ❌ Apr 5: MISSED (sick, forgot)
  ✅ Apr 15: ₦50,000 (late by 10 days)
  ✅ May 5: ₦50,000 (on time)
  ✅ Jun 5: ₦50,000 (on time)
  ... continues

Performance at Month 6:
  On-Time: 5/6 = 83%
  Tier: 80-89% → +2% bonus
  
Performance at Month 12:
  On-Time: 11/12 = 92%
  Tier: 90-99% → +4% bonus

Bonus Calculation:
  Base Rate: 4%
  Performance Bonus: +4%
  Effective Rate: 8%
  
  Base Interest: ₦600k × 4% × (12/12) = ₦24,000
  Bonus Interest: ₦600k × 4% × (12/12) = ₦24,000
  Total Interest: ₦48,000

Missed Deposit Penalty

missedDepositPenalty: 0.5  # -0.5% per missed deposit

Example:

Goal: 12 months
Missed: 2 deposits

Base Rate: 4%
Earned Bonus: +4% (10/12 = 83%)
Missed Penalty: -1% (2 × 0.5%)
Effective Rate: 7%

Impact:
  With perfect record (100%): 4% + 6% = 10%
  With 2 missed (83%): 4% + 4% - 1% = 7%
  Difference: -3% or ₦18,000 on ₦600k

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Milestone Rewards

Progress Tracking

milestones:
  25%: Badge
  50%: ₦5,000 cash + Badge
  75%: Badge
  100%: Certificate + ₦10,000

Timeline Example (₦500k / 12 months):

Month 0: Goal Created
  Balance: ₦0
  Next Milestone: ₦125,000 (25%)

Month 3: First Milestone
  Balance: ₦126,000 (25.2%)
  Reward: "Quarter Goal" Badge
  Notification: "🎉 You've reached 25%! Keep it up!"
  Profile: Badge displayed

Month 6: Halfway Point
  Balance: ₦252,000 (50.4%)
  Reward: ₦5,000 cash bonus + "Halfway Hero" Badge
  Notification: "🎉 Halfway there! ₦5,000 bonus credited"
  Balance After: ₦257,000

Month 9: Three-Quarter Mark
  Balance: ₦378,000 (75.6%)
  Reward: "Almost There Champion" Badge
  Notification: "🎉 75% complete! Final stretch!"

Month 12: Goal Achieved
  Balance: ₦504,000 (100.8%)
  Rewards:
    - Certificate: Personalized PDF emailed
    - ₦10,000 cash bonus
    - "Goal Achieved 2026" Badge
    - Shopping voucher: ₦20,000
  Final Balance: ₦534,000
  Notification: "🎉🎉 Goal achieved! Certificate sent to email"

Gamification Elements

gamificationConfig:
  enableBadges: true
  enableStreakTracking: true
  streakBonusRate: 0.5

Badge System:

Milestone Badges:
  - "First Step" (first deposit)
  - "Quarter Goal" (25%)
  - "Halfway Hero" (50%)
  - "Almost There Champion" (75%)
  - "Goal Achieved" (100%)

Streak Badges:
  - "3-Month Streak" (bronze)
  - "6-Month Streak" (silver) → +0.5% bonus
  - "12-Month Streak" (gold) → +1.0% bonus
  - "Perfect Year" (12/12 on-time) → +2.0% bonus

Special Badges:
  - "Early Bird" (goal achieved before deadline)
  - "Overachiever" (exceeded goal by 20%+)
  - "Savings Champion" (multiple goals completed)

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Auto-Debit & Automation

Auto-Debit Setup

autoDebitConfig:
  enableAutoDebit: true
  autoDebitSourceAccount: "PrimarySavings"
  autoDebitDay: 5
  autoDebitRetryAttempts: 3

Process Flow:

Day 3 (2 days before):
  SMS: "Auto-debit of ₦50,000 will occur on Jan 5"
  Check balance: ₦150,000 ✅

Day 5 (debit day):
  Step 1: Validate source account balance
  Step 2: Debit ₦50,000 from savings
  Step 3: Credit target savings account
  Step 4: Update progress (Month 1 complete)
  Step 5: SMS: "₦50,000 added to your goal. Balance: ₦50,000"
  
If Insufficient Funds:
  Day 5: Attempt 1 FAILED
  Day 6: Attempt 2 (retry)
  Day 7: Attempt 3 (final retry)
  If still failed: Mark as MISSED
    - Notify customer
    - Impact performance bonus
    - Customer can manually deposit

Round-Up Savings

roundUpSavingsConfig:
  enableRoundUp: true
  roundUpTarget: 100
  roundUpMaxPerTransaction: 100

How It Works:

Current Account Transactions:

Transaction 1:
  Coffee: ₦450
  Round up to: ₦500
  Transfer to target savings: ₦50

Transaction 2:
  Groceries: ₦12,350
  Round up to: ₦12,400
  Transfer: ₦50

Transaction 3:
  Fuel: ₦8,920
  Round up to: ₦9,000
  Transfer: ₦80

Transaction 4:
  Transfer: ₦100,000 (large)
  Round up to: ₦100,000 (no change, exactly ₦100)
  Transfer: ₦0

Daily Round-Ups: ₦50 + ₦50 + ₦80 = ₦180
Monthly (30 trans): ~₦1,500
Annual: ~₦18,000

Benefit: Painless micro-savings

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Validation Rules

Goal Setup Validation

Code Removed

Implementation details removed for security.

Contact support for implementation guidance.

Performance Bonus Calculation

Code Removed

Implementation details removed for security.

Contact support for implementation guidance.

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Troubleshooting

Issue: "Missed a monthly deposit, lost bonus"

Cause: Insufficient funds in source account on auto-debit day.

Solutions:

Problem: Month 4 deposit missed due to low savings balance

Impact:
  Performance drops: 100% → 75%
  Bonus reduces: +6% → +1%
  Interest loss: ~₦15,000 on ₦500k goal

Prevention Strategies:

1. Buffer Balance
   Maintain ₦100k buffer in savings
   Set low balance alert at ₦75k
   
2. Auto-Debit Timing
   Schedule after salary (e.g., day 5)
   Avoid month-end when balances low

3. Backup Funding
   Link secondary account
   Manual top-up option

4. Catch-Up Deposit
   Make manual deposit within 5 days
   System can mark as "late but paid" (partial credit)
   
Recovery:
   Current: 3/4 on-time (75%)
   Remaining: 8 deposits
   Need: 8/8 perfect → 11/12 (92%) → +4% bonus
   Still better than missing more!

Issue: "Goal too ambitious, can't keep up"

Cause: Unrealistic target or life circumstances changed.

Solutions:

Original Goal: ₦1,000,000 in 12 months (₦83,333/month)
Reality: Can only manage ₦50,000/month

Option 1: Extend Goal Period
  New Period: 20 months
  Monthly: ₦50,000
  Penalty: None (if allowGoalExtension: true)
  Impact: Delay achievement, but keep momentum

Option 2: Reduce Target Amount
  New Target: ₦600,000
  Period: Keep 12 months
  Monthly: ₦50,000
  Trade-off: Lower goal, but achievable

Option 3: Variable Contributions
  Some months: ₦50,000
  Other months: ₦80,000 (when possible)
  Average: ₦65,000
  Flexible approach

Option 4: Partial Liquidation
  Withdraw: ₦200,000 (if allowed)
  Penalty: 5% = ₦10,000
  Continue: ₦800,000 goal
  Last resort: Better than full liquidation

Recommendation: Option 1 (extend) preserves savings discipline

Issue: "Early liquidation needed"

Cause: Emergency expense.

Analysis:

Target Savings Account:
  Goal: ₦500,000
  Current: ₦350,000 (70% complete, Month 8/12)
  Interest Earned: ₦14,000
  Milestone Bonuses: ₦5,000
  Total: ₦369,000

Early Liquidation:
  Fee: ₦2,500
  Receive: ₦369,000 - ₦2,500 = ₦366,500
  
  Lost Future Benefits:
    - 75% milestone badge (sentimental)
    - 100% completion bonus ₦10,000
    - 4 months interest: ~₦7,000
    - Performance bonus: ~₦10,000
    Total Lost: ₦27,000

Alternatives:

1. Partial Withdrawal (if allowed)
   Withdraw: ₦100,000
   Penalty: 5% = ₦5,000
   Receive: ₦95,000
   Remaining Goal: Continue with ₦250k → ₦500k

2. Short-Term Loan
   Borrow: ₦100,000 for 30 days
   Interest: ~₦3,000
   Keep target savings intact
   Cheaper than liquidation

3. Adjust Goal
   Reduce target: ₦350k → ₦500k
   Extend deadline: +2 months
   Complete successfully

Choice depends on emergency urgency vs long-term goals

---

Migration from V1

V1 Target Savings Mapping

V1 Field/Table	V2 YAML Path
TargetAmount	goalConfig.minimumTargetAmount (use for validation)
GoalPeriod	goalConfig.maximumGoalPeriodMonths
MonthlyContribution	monthlyContributionConfig.minimumMonthlyContribution
InterestRate	interestConfig.baseRate
AutoDebit	autoDebitConfig.enableAutoDebit

---

Last Updated: January 2, 2026
API Version: V2 (BPMCore)
Product Category: Deposit Products
Complexity: ⭐⭐⭐⭐ (High - Gamification & Automation)