by Jill Feiler on Aug 28, 2025 11:21:41 AM
Interest Split Override by Rate Feature
In some scenarios, organizations want to be able to create a subaccount and add a portion of their rate they want to be paid to the Beneficiary. Previously, organizations only had the ability to enter this as a percentage of the overall APR, but with this feature they will now also have the option of entering a specific APR value. This is now available as a part of the subaccount creation process or can be added or edited for existing subaccounts.
This allows the FI that has negotiated a rate with the organization to let the organization give a fixed portion of that rate to the beneficiary regardless of future changes to the overall interest rate established between the FI and organization. Conversely, the organization can lock their portion of the interest rate so it doesn't get affected by changes to the organization’s interest rate.
How to Enable this feature:
The FI should email clientsupport@zsuitetech.com with the following information:
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Which organizations would like to have this feature
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How the organization/beneficiary split should be applied to the organization
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Request “Allow Interest Split overrides” to be enabled
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If the interest split override feature is already enabled, no action is needed
Note: Any changes applied to the interest split, whether by rate or percentage, will become effective as of the first date of the interest cycle.
Once the organization has the Split Override set to “yes” as explained above, they can enter an interest rate or an interest percentage for their subaccounts in one of two scenarios:
Adding Interest Split Override at Subaccount Creation
When you create a new subaccount, clicking “Continue” on the first screen will display a modal that asks if you want to override the default interest split. Select “Yes” if you wish to enter a value that is different than the default interest earned by the subaccount.
Add/Edit Interest Split Override on Existing Subaccounts.
Open any existing subaccount within the organization that has the interest split override enabled in the configuration.
Clicking on the “Edit Interest Split” button as highlighted above will give you the option to change the split, or remove it if needed.
In the image shown above, you can either pick “Percent of Total” which gives you the option to enter the subaccount (beneficiary) portion as a percentage of the total APR, or you can choose the “Fixed APR” option which allows for an interest rate (APR) for the beneficiary or organization portion to be specified.
If “Fixed APR” is selected, you now have the option to either enter the interest rate portion for the subaccount (beneficiary) or the organization. Either option can be locked, and the other applicable portion is calculated using the total configured APR from the organization’s interest configuration that was set earlier by the FI.
As shown below, the override was updated to 2% for the subaccount which resulted in the subaccount now earning an APR of 2%.
Removing an override
To remove a subaccount’s interest split override, click on “Edit Interest Split” on the subaccount dashboard, then select “Remove override.”
This reverts the subaccount interest rate to the default interest split configuration, in this case 1.44%.
