TERM Deposit

Term Deposit is a type of investment where the money is invested at financial institutions for a fixed period of time on which an agreed amount of interest is earned. Unlike regular saving account, interest earned in term deposit is higher. Application enables users to open and manage Term Deposits through its entire life cycle.

The transactions available under the Term Deposit module:

• Deposit Overview
• Deposit Details
• Open New Deposit
• Edit Maturity Instruction
• Top up
• Redemption
• Request Statement
• Term Deposit Calculator

Features Supported In Application

Pre-Requisites

Maintenances have to be performed for accounts of the Primary PartyA party is any individual or business entity having a banking relationship with the bank. & the Linked Parties, that the user needs to access either for enquiries or transactions.

• Party preference is maintained (primary and linked parties)
• Corporate users are created.
• Transaction and account access is provided to corporate user (primary and linked parties)
• Approval rule set up for corporate user to perform the actions
• Transaction limits are assigned to user to perform the transaction