As the name suggests, a Term Deposit is a deposit held at a bank for a fixed term, generally ranging from a month to a few years. If compared to regular savings accounts, the interest earned on term deposit is higher.
Customers opt to invest in term deposits as they are a safe and secure mode of investment and yield higher returns than regular checking or savings accounts.
Pre-requisites
Features Supported In the Application
The retail module of the application supports the following features:
Term deposits can be accessed via the Term Deposit Dashboard in the application. The dashboard enables customers to manage their deposit effectively and efficiently.
The term deposit dashboard displays an overview of the customer’s deposits held at the bank by displaying a summary of both the active as well as closed term deposits.
The term deposit dashboard enables customers to access any of the term deposit features ranging from applying for a new term deposit to viewing closed term deposit details.
Click on individual components to view in detail.
Dashboard Overview
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Summary This widget displays the summary of the customer’s active term deposits held with the bank. The widget displays the following values:
The customer can also toggle between viewing the summary of conventional and Islamic term deposits, if he holds both types of accounts with the bank. |
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Deposit Account Card This section lists down all the active term deposit accounts that the customer holds with the bank. Each account is displayed as a separate card with basic details such as the holding pattern along with the name of the primary account holder, deposit product or offer name, the masked deposit account number and nickname, if defined, along with the interest rate applicable and the maturity date of the account. Each card also displays the current balance of the deposit account. If the customer holds both conventional as well as Islamic accounts, the type of account is also identified on each card. The customer is able to view further details of an account by clicking on the account’s card. |
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Mini Statement The mini statement widget displays the recent activity taken place in a specific term deposit account. The customer can select a specific deposit account to view the mini statement. Each activity on the statement is indicated by the date on which the activity took place, the description of the activity as well as the amount that was debited or credited in the deposit account. By clicking on the More Details link, the customer is able to invoke the account statement screen on which the customer can view the complete statement of any deposit account. |
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New Deposit The customer can click on the link provided in this widget to apply for a new term deposit. On clicking New Deposit link, the screen on which the customer can setup a new deposit will be displayed. |
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Closed Deposits It displays the total number of closed term deposits. Click this section to view details of all closed term deposit accounts held by customer. This widget displays the total number of term deposits of the customer that have been closed. The customer can view further details of the closed deposits by clicking on the View All link provided. |
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Deposit Calculator This widget contains a link, by clicking on which the customer is able to navigate to the term deposit calculator page. |
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