CREATE GOAL

Using this option, user can create a goal.

The create goal screen comprises of the following sections:

You are here How to reach here:

Dashboard > Goals > More Options > Create Goals > Goals Category
OR
Dashboard > Toggle Menu > PFM > Goals > New Goal > Goals Category
OR
Dashboard > Toggle Menu > PFM > Goals > My Goals > Create Goal > Goals Category

Goal Category

Field Name

Description

Let's begin! Choose your dream Goal

and we will help to achieve it

Goal Category Card

Category card enabling the user to create a goal from the available list. Eg. House, Car, Vacation etc.

To create a goal

Set Goal Amount

Field Name

Description

Set Goal Amount

Enter Goal Amount

The target amount to be saved for goal.
  1. In the Enter Goal Amount field, enter the target amount.
  2. Click Proceed. The Create Goal screen appears.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click the Back to Dashboard link to navigate to the dashboard.

Create Goal - Goal Details

Field Name

Description

Goal Image

The image of the goal.

Click Editto change the goal image.

Category

Name and image of the selected category.

Name your Goal

The name of goal to be created.

What is your Goal Amount?

The target amount of the user’s goal.

Have you already saved something for it?

The initial funding for the goal.

The initial funding amount should be greater than the minimum amount defined for the product.

Account number for initial contribution

The account number from which funds will be debited for initial funding.

Once an account is selected, the balance in the account is also displayed below this field.

The remaining amount

The amount left to achieve after initial funding.

In how much time do you want to achieve this Goal?

The tenure of the goal.

On goal maturity, you will receive your money in the account selected above.

By default, on maturity, the amount in the goal shall be transferred into the source account through internal transfer. The user can, however, choose to have the goal amount credited to a different account when it matures, by defining the requirements in the following section:

No, I would like to plan how I wish to receive my money after the Goal has matured?

The user can select this check box, if he wishes to have the goal amount transferred to a different account than that defined in the above field as source account.

How would you like the account transfer?

The account transfer option for receiving the goal amount on completion of tenure.

The options suggested are:

  • To My Mapped Accounts
  • Internal Bank Account
  • Through Domestic Clearing Network

The following field is displayed if you select To My Mapped Account option from the How would you like the account transfer? list.

On maturity, money should be transferred to which account?

The account number to which the amount has to be transferred after completion of goal.

The following fields appears if you select Through Domestic Clearing NetworkClosedAn electronic funds transfer network, such as PULSE, that links financial institutions and their cardholders to ATMs and merchant point-of-sale (POS) terminals to complete an electronic financial transaction. option from the How would you like the account transfer? list.

What would be the network type?

The applicable domestic clearing networks.

Please mention the beneficiary name

The name of the beneficiary to whom funds are to be transferred.

Please tell us the bank code

The destination account’s bank code.

The following field is displayed if you select Internal Bank Account option from the How would you like the account transfer? list.

On maturity, money should be transferred to which account?

The account number to which the amount has to be transferred after completion of goal.

Serious about achieving this goal? Set standing instructions to increase your chances.

Yes, I would like to set standing instructions

The user can select this check box if he wishes to set standing instructions.

At what frequency would you contribute for this Goal?

The frequency of the standing instructions.

The options are

  • Quarterly
  • Monthly
  • Weekly

What will be the Quarterly contribution amount?

The amount to be contributed quarterly for goal account.

This field appears if you select Quarterly option from the At what frequency would you contribute for this Goal? list.

What will be the Monthly contribution amount?

The amount to be contributed monthly for goal account.

This field appears if you select Monthly option from the At what frequency would you contribute for this Goal? list.

What will be the Weekly contribution amount?

The amount to be contributed weekly for goal account.

This field appears if you select Weekly option from the At what frequency would you contribute for this Goal? list.

Which will be the contribution Start date?

The start date from which the regular contributions will be executed.

Which will be the contribution End date?

The end date until which the regular contributions will be executed.

Contribution Account Number

The account number from which funds will be credited to the goal.
  2. In the Name your Goal field, enter the name of your goal.
  3. From the Account number for initial contribution list, select the appropriate account number.
  4. From the In how much time do you want to achieve this Goal? list, select the appropriate years and months.
    On Goal maturity you will receive the money in the account as selected above.
  5. Select No, I like to plan how I wish to receive my money after the Goal has matured?, if you wish to change the existing maturity instructions.
  6. From the How would you like the account transfer? list, select the appropriate option, if you select Through Domestic Clearing Network option:
  8. From the What would be the network type? list, select the appropriate network type.
  9. In the On maturity, money should be transferred to which account? field, enter the account number for fund transfer.
  10. In the Please mention the beneficiary name field, enter the name of the beneficiary to which funds are to be transferred.
  11. In the Please tell us the bank code field, enter the bank code or search it from look up. For more information go to click IFSC Code.
  12. If you select Internal Bank Account option:
  13. In the On maturity, money should be transferred to which account? field, enter the account number for fund transfer.
  14. If you select To My Mapped Accounts option:
  15. From the On maturity, money should be transferred to which account? list, select the appropriate account number.
  16. Select Yes, I would like to set standing instructions, if you wish to set standing instructions.
  17. In the At what frequency would you contribute for this Goal? field, select the appropriate option.
  18. In the What will be the Quarterly/ Monthly/ Weekly contribution amountfield, enter the appropriate contribution amount.
  19. From the Which will be the contribution Start date? and Which will be the contribution End date? fields, select the appropriate dates.
  20. From the Contribution Account Number list, select the appropriate account number.
  21. Click Create to create the goal.
    OR
    Click Cancel to abort the goal creation process.
    OR
    Click the Back to Dashboard link to navigate to the dashboard.
  22. The success message of goal creation appears.
    Click Go to Dashboard to access the dashboard.

Domestic Clearing Network - Search IFSC Code

Field Name

Description

IFSC Code

IFSC code of the beneficiary bank account.

Bank Name

IBank name corresponding to IFSC code.

State

State of the beneficiary bank.

City

City of the beneficiary bank.

FAQs

ClosedIs there a minimum amount I must contribute initially at the time of goal creation?

Yes, the bank defines a minimum contribution amount for each goal product. At the time of goal creation, you are required to credit the goal account with an amount that is not lower than this minimum amount defined.

ClosedAre there any validations on the standard instructions to be defined at the time of Goal Creation?

Yes, the validations to be adhered to while defining standing instructions are as follows:

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