Fixed rates for lending or deposit additionalValue

Question

In the Get Account Detail API, when a Data Holder (DH) is sharing a fixed deposit or lending rate, is the rate type additionalValue field meant to represent a fixed term duration as a generic property of a product or the amount of time remaining in the fixed period?

For example, if I have a 5 year fixed mortgage and have 3 years left of the fixed term period, would the API return P5Y or P3Y?

Answer

The intent was that for FIXED types, additionalValue represents the fixed term from the opening of the account. This reduces the need for DHs to calculate on the fly.

The specific end, or maturity, dates for loans or term deposits are captured in other fields in Account Details.

In your example, the value returned in the additionalValue field, formatted according to  ISO 8601 durations, is P5Y.

See:

• CDS Get Account Detail
• CDS BankingDepositRate
• CDS BankingProductLendingRateV2
• CDS Product & Account Types, Product Deposit Rate Types & Product Lending Rate Types, FIXED, Use of additionalValue field