How to Calculate Interest for a Term Deposit Account

Owned by Former user (Deleted)
Last updated: Jul 17, 2017 by Vishwas Babu AJ (Unlicensed)
1 min read



Interest is normally calculated and posted to an account using a batch process that runs on a regular basis defined by your financial institution. You may use the calculate interest transaction to calculate interest due to a term deposit account as of the current date and between runs of the batch process. 

Sample calculations for Fixed and recurring deposits are attached to this page


On this page:

To calculate interest for a term deposit account

Locate the term deposit account by viewing the client that holds the saving account and clicking on the term deposit account under Saving Account Overview.

  1. Select Calculate Interest from the action bar.
    The interest earned from the date the term deposit was activated until the current date will be calculated and the Interest Earned field on the Summary tab will be updated.


Key Error Messages

 

Refer Recurring Deposit Calculation for calculation info of recurring deposit.

Refer Fixed Deposit Calculation for calculation info of fixed deposit.

Filter by label

There are no items with the selected labels at this time.