Top up

A user may have a small surplus amount that he can invest in a 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.. Opening a new term deposit for a small surplus amount may not be convenient, since the he has an option to Top-up, an existing deposit held with the bank.

The application allows a user to re-invest the surplus amount into an existing term deposit. User can top-up an existing term deposit with the desired and permissible top-up amount.

The application not only provides the current investment position on the term deposit, but also has provision to calculate the revised maturity amount, interest rate and total investment before top-up confirmation. User can fund the top-up using any of his source accounts with the bank. The application also helps the User regarding the top-up amount supported by the term deposit product.

How to reach here:

Dashboard > Quick Links > Top Up
OR
Dashboard > Accounts > Term Deposits >Top Up
OR
Dashboard > Accounts > Term Deposits > Term Deposit Summary > Deposit Number > Deposit Details > Quick Links > Top Up

Field Description

Field Name	Description
Select Account	Account number along with the account nickname of the term deposit for which top-up is to be done. The account number could be either the users own PartyA party is any individual or business entity having a banking relationship with the bank. account or any linked party accounts that he has access to. For more information on Account Nickname, click here.
Current Balance	Current principal amount that is the revised principal amount after top-up done.
Top-up Amount	Top-up amount.
Maximum Deposit amount applicable for Top-up	View the maximum deposit amount supported for the term deposit product.
Top up amount in Multiple of (X amount with currency)	View the denomination supported for top-up.
Revised Principal Amount	Calculated principal amount (as per interest rate) as on current date after top-up.
Revised Maturity Amount	Calculated maturity amount after top-up.
Revised Interest Rate	Interest rate applicable after top-up.
Source Account	Saving account along with the account nickname mapped to the user. The user can select the account to be debited in order to top-up term deposit. The account could be either the users own Party account or any linked party account, that he has access to. For more information on Account Nickname, click here.
Source Account Balance	Account balance of the selected source account.

To top-up the term deposit:

• From the Select Account list, select the appropriate account.
• In the Top-up Amount field, enter the top-up amount.
• From the Source Account list, select the appropriate option.
• To add the top-up amount, click Top Up.
  OR
  To calculate the revised principal amount and maturity amount, click Calculate Maturity.
  OR
  Click Cancel to cancel the transaction.
• The Review screen appears. Verify the details and click Confirm.
  OR
  Click Edit to make changes if any. User is directed to Top-up TD – screen with values in editable form.
  OR
  Click Cancel to cancel the transaction.
• The success message of Top-up TD appears along with the transaction reference number. Click OK to complete the transaction and navigate back to ‘Dashboard’.

Note: Click Reset to clear the entered details (applicable on use of Calculate Maturity feature).

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