---
title: "Rate"
url: "https://developers.zinnia.com/apis/policy-service-0-1-0/versions/8306e031-b41c-452a-a7ed-d73d65602086/schemas/Rate"
---

> Full API specification: https://developers.zinnia.com/apis/policy-service-0-1-0/versions/8306e031-b41c-452a-a7ed-d73d65602086.md

# Rate

## OpenAPI definition

```yaml
openapi: 3.0.0
info:
  title: Policy Service
  version: 0.0.21
servers:
  - url: https://qa.api.zinnia.io
components:
  schemas:
    Rate:
      type: object
      properties:
        rateType:
          type: string
          enum:
            - PARTICIPATION
            - CAP
            - SPREAD
            - TRIGGER
            - FLOOR
            - BONUS
            - GMIR
            - ILLUSTRATION
            - THRESHOLD
            - FUNDFEE
            - BAILOUT
            - BUFFER
            - COUPON
            - FIXED
          description: Rate Type identifies the classification of the rate that is being
            applied to a specific fund or account value within a life insurance
            or annuity policy. It defines how the interest, return, or crediting
            rate is determined for that fund.It helps dictate whether the rate
            is fixed, variable, index-linked, declared, or derived from another
            methodology, and plays a key role in calculating earnings or charges
            associated with the fund.
        currentRate:
          type: number
          format: double
          description: Current Rate refers to the actual interest rate or crediting rate
            being applied to a specific fund or account at the present time, as
            declared or calculated by the insurance carrier. It is used to
            determine how much interest or investment return will be credited to
            the contract or sub-account during the current crediting period.
          example: 33.28
        initialGuaranteedRate:
          type: number
          format: double
          description: The Initial Guaranteed Rate is the fixed interest rate promised by
            the insurance carrier at the start of the contract or fund
            allocation, which is guaranteed not to change for a specified
            initial period (e.g., 1, 3, 5, or 10 years), depending on the
            product terms.
          example: 33.28
        guaranteedMinimumRate:
          type: number
          format: double
          description: The Guaranteed Minimum Rate is the lowest interest rate that an
            insurance company is legally or contractually obligated to credit to
            the account value or specific fund of a life insurance or annuity
            policy—regardless of market performance or declared rates. This rate
            acts as a floor, providing downside protection for the policyholder
            by ensuring a minimum return is always credited to the contract.
          example: 33.28
        guaranteedMaximumRate:
          type: number
          format: double
          description: The Guaranteed Maximum Rate is the highest cap or participation
            rate that the insurer can declare, as specified in the contract. It
            does not represent an actual credited rate, but rather a ceiling to
            limit the insurer’s obligations. It works alongside guaranteed
            minimums and declared rates to balance customer upside potential
            with carrier risk management.
          example: 33.28
        rateEffectiveDate:
          type: string
          format: date
          description: The date on which the rate becomes effective for the specific fund
            segment.
          example: 2023-01-01
```