Product Definitions
Overview
This document describes the concepts of the Product Definition domain model and explains how product-related entities are connected.
The actual Product Definition domain model is significantly more comprehensive. The model in this document represents the initial set of the Product Definition domain currently exposed through the public API. Additional concepts, entities, and relationships may be exposed in future API releases.
For a detailed description of each entity and its attributes, refer to Product Definition API.
Product definition
A Product Definition represents a lending product that a tenant can offer to borrowers. Each ProductDefinition includes its category, validity dates, localized names, and one or more supported interest options.
To learn how to read the diagram, see How to read these diagrams.
Product category
A product is categorized into one of the following types:
| Category | Description |
|---|---|
Loan | A standard loan where a borrower receives a fixed amount and repays it over time with interest. |
Guarantee | A guaranteed loan product where a third party guarantees repayment if the borrower cannot meet the obligation. |
CurrentAccount | A revolving credit product linked to a current account, allowing borrowers to access credit through their account up to an approved limit. |
ConstructionDeposit | A product for construction where funds are disbursed in stages as the project progresses (not necessarily all at once). |
CreditLine | A lending product that allows borrowers to draw funds in multiple tranches, with each drawdown creating a separate loan, up to a pre-approved credit limit. |
Insurance | An insurance product associated with a loan. |
Interest product definition
An InterestProductDefinition describes an interest option that can be selected for a lending product. A ProductDefinition can be associated with one or more interest options. For example, a product might support both fixed interest for 10 years as well as fixed interest for 20 years.