Page Comparison

A Deposit Account is an instance of a Deposit product. A Deposit Account has a unique account number, an interest rate depending on the term and it is owned by the client.

A Deposit account can be created for an active client based on a deposit product that is active on the submitted date. When a deposit account is created, it inherits the rules and defaults from the deposit product. Your financial institution may allow some of the inherited information to be modified for a deposit account, depending on how the deposit product is defined.

Deposit Account can be created for

Fixed Deposit Product(FD Product)
Recurring Deposit Product(RD Product)

Panel

On this page:

Table of Contents

maxLevel	3
minLevel	3
printable	false

Deposit Account For Fixed Deposit Product:
1. Go to the Clients List and select any Client to whom FD account needs to be created.
2. In the Client's profile, Go to 'More' option and click on 'New Fixed Deposit'
Image Removed
Image Added

3. After clicking on 'New Fixed Deposit', Fixed Deposit Application will open as shown below.

Field Name	Description	Example	Validations
Submitted On	Enter the FD Application Submitted Date by the Client
Deposit Amount	Enter the Deposit Amount (It Should be in between minimum and maximum deposit amount provided in FD product
Deposit Period	Provide the duration of the deposition
Locking Period	The amount can be locked for given period during which withdrawal or premature closure of FD Account is not possible.
Link Savings	Once the FD reaches to maturity , the interest can be posted to given savings account.

4. Once all the details are entered in FD application and submitted, it needs to be approved with date.

5. Finally, the FD account needs to be activated with specified date.

See how to create Recurring Deposit Account

Versions Compared

Old Version 13

New Version Current

Key

Related articles