Edit Maturity Instruction

In due course, a customer may want to change the maturity instruction set for a term deposit at the time the deposit was opened. The Edit Maturity Instructions feature enables a customer to change the maturity instructions set at the time of opening the deposit.

Using this option, the customer can change the maturity instruction of a term deposit at any point in time.

You are here How to reach here:

Dashboard > Term Deposits > My Deposit page > Overview > Term Deposit Account Card > Deposit Details > Edit Maturity Details
OR
Accounts > Term Deposits > Edit Maturity Instruction

Field Description

Field Name	Description
Primary Customer	Name of the primary account holder.
Account Number	Account number along with the account nickname of the term deposit in the masked format. For more information on Account Nickname, click here.
Maturity Instruction	The maturity instructions set at the time of opening the deposit account will be displayed by default. The customer will be able to change these instructions are required. The options can be: Close on Maturity (No Rollover) Renew Interest And Principal Renew Principal and Pay Out the Interest Renew Interest and Pay Out the Principal Renew Special Amount and Pay Out the remaining amount
Roll over Amount	Special amount be rolled over. This field appears if you select Renew Special Amount and Pay Out the Remaining Amount option from the Maturity Instruction list.
Pay To	Account transfer options. The options are: Own accounts Internal Account Domestic Bank Account This field does not appear, if the option Renew Principal and Interest has been selected as Maturity Instructions list.
Own Account This section is displayed if the option Own Account has been selected in the Pay To field.
Transfer Account	The account number along with the account nickname to which the funds are to be transferred.
The following fields are displayed once the customer has selected an account in the Transfer Account field.
Beneficiary Name	The name of the holder of the account selected in Transfer Account.
Bank Name	Name of the beneficiary bank.
Bank Address	Address of the beneficiary bank.
City	City of the beneficiary bank.
Internal Bank Account This section is displayed if the customer has selected the option Internal Account in the Pay To field.
Account Number	The customer can identify a current or savings account of the bank to which the funds are to be transferred once the deposit matures.
Branch	The customer is required to select the branch in which the account is held.
Branch Address	Once the customer selects a particular branch, the address of that branch is displayed on the page.
Domestic Bank Account This section is displayed if the customer has selected the option Domestic Bank Account in the Pay To field.
Account Number	The customer can identify a current or savings account to which the funds are to be transferred once the deposit matures.
Account Name	Name of the account holder who will be the beneficiary to whom funds will be transferred once the deposit matures.
Bank Code	The customer is required to identify the bank code in which the beneficiary account is held.
Look Up Bank Code	Search option to look for bank code of the destination account.
The following fields and values will be displayed once the customer has specified a bank code.
Bank Name	Name of the beneficiary bank.
Bank Address	Address of the beneficiary bank.
City	City of the beneficiary bank.

To edit the maturity details:

From the Maturity Instructions list, select the appropriate option, if you select Close on Maturity (No Rollover) or Renew Principal and Pay Out the Interest option:
From the Pay To list, select the appropriate option, if you select Own Account option:
From the Transfer Account list, select the appropriate option.
If you select Internal Bank Account option:
In the Account Number field, enter the account number of the beneficiary.
From the Branch list, select the appropriate option.
If you select Domestic Bank Account option:
In the Account Number field, enter the account number of the beneficiary.
In the Account Name field, enter the account name of the beneficiary.
In the Bank Code field, enter the bank code and click Submit.
OR
From the Look Up Bank Code link, select the appropriate bank code.
If you select Renew Special Amount and Payout the Remaining Amount option from the Maturity Instruction list.
In the Roll Over Amount field, enter the amount.
Repeat steps 1, a to c
To save the changes, click Save.
OR
Click Cancelto cancel the transaction.
The Review screen appears. Verify the details and click Confirm.
OR
Click Cancel to cancel the transaction.
The success message appears. Click Done to complete the transaction.

Home

View Table of Contents