Term Deposit is a type of saving where the money is invested for a fixed period of time on which a fixed amount of interest is earned. Unlike regular saving account, interest earned in term deposit is higher. However, the deposit amount is blocked for a specific period, which cannot be withdrawn till completion of this period. The longer the deposit period, the more the interest earned.
Features Supported In Application
Application enables users to open and manage TDs through its entire life cycle. The transactions available under the TDTerm Deposit is a deposit accepted by bank, for a fixed term, from customers. A term deposit is a liability of a bank with fixed maturity period. module:
Features at a glance
Pre-Requisites
Maintenances to be performed for accounts of the Primary PartyA party is any individual or business entity having a banking relationship with the bank. & the Linked Parties, that the user needs to access either for enquiries or transactions.
