You can add investment products to an investment account once it is created. An investment account can have multiple investment products created under it. Different products will be applicable for different use cases. You can decide which product best suits your use case.
The following are investment products that can be created for an investment account.
|A wallet serves as a place to store or hold money. It can be used to keep and receive money, make payments and perform transactions. Wallets on the Embed API also serve as the sole funding source for all investment products as well as the sole destination when withdrawals are made from all investment products. Wallets can be withdrawn from at any time and are automatically created once an investment account is verified.
|Savings are a form of investment created for a specific period of time. They can be interest enabled or interest free. The lock period for savings is usually for a minimum of 3 months. Once locked, money put into savings cannot be accessed. After the saving matures, the money will be moved into the user’s wallet. Note: Interest rates for savings are reviewed periodically based on market performance to ensure safety and guaranteed returns.
|Assets on the Embed API is used specifically to help with categorization. It contains diverse investment instruments such as T-bills, mutual funds, bonds and stocks. These investments are held in anticipation of a future increase in value. Unlike savings which issues returns based on a fixed interest rate for a specific period, investments here typically have varying modes for issuing returns and are accessible to be withdrawn from at any time. We’ll go over this in detail later.
|Indexes are a collection of investments. An index typically contains a mix of investment options under the Assets type. We have some professionally managed Nigerian and US indexes already available but you can choose to create a custom index to invest in. Available options include an index of Money Market Mutual funds, USD Index (a mix of US stocks and bonds), an index of Eurobonds Mutual Funds, etc.