Edit Maturity instruction

At any point in time, a customer may want to change the maturity instruction set for a term deposit. The Edit Maturity Instruction feature enables a customer to change the maturity instruction that was set at the time the deposit was being opened. Using this option, the customer can change the maturity instruction of a term deposit.

You are here How to reach here:

Toggle Menu > Accounts > Term Deposits > Edit Maturity Instruction

OR
Toggle Menu > Accounts > Term Deposits > Overview > Deposit Details > Quick Links > Edit Maturity Instruction

Field Description

Field Name	Description
Select Account	Term deposit account number in masked format along with the account nickname(if any). The account number could be either the users own PartyA party is any individual or business entity having a banking relationship with the bank. or any linked party that he has access to.
Maturity Instruction	Maturity instructions to be set by the user for the selected deposit account. The options are: 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 you select Renew Principal and Interest option from the Maturity Instructions list.
Own Account This section appears for Own Account.
Transfer Account	Account number along with the account nickname to which the funds are to be transferred. For more information on Account Nickname, click here. On selecting Transfer Account, account related details get displayed like Account Holder's Name and Branch Details.
Internal Bank Account This section appears for Internal Account.
Account Number	Account number to which the funds are to be transferred.
Domestic Bank Account This section appears for Domestic Bank Account.
Account Number	Account number to which the funds are to be transferred.
Account Name	Name of the account to which funds are to be transferred.
Bank Code	Bank code of the destination account. On submitting the Bank Code, the corresponding bank address gets displayed.
Look up Bank Code	Link to help the user search for Bank Code.

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 or Renew Interest and Pay Out the Principal 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.
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 a to c of step 1.
To save the changes, click Save.
OR
Click Back to navigate to the previous screen.
The Review screen appears. Verify the details and click Confirm.
OR
Click Back to make changes if any. User is directed to Edit Maturity Instructions – screen with values in editable form.
OR
Click Cancel to cancel the transaction.
The success message of Edit Maturity Instructions, appears along with the transaction reference number.
Click Go to Dashboard , link to navigate to the dashboard.
OR
Click Go To Account Details link to access the Deposit Details screen.

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