Deposit Class - Refund Interest

On Deposit Class - Main you must define the Interest Refund Algorithm to define how the system calculates interest and how it refunds the interest to the customer.

If you haven't done so already, you must set up this algorithm in the system. To do this:

• Create a new algorithm (refer to Setting Up Algorithms ).
• On this algorithm, reference an Algorithm Type that calculates interest on a deposit.

Interest will be automatically calculated every X months where X is defined in Months Between Interest Refund. Refer to Deposit Interest for a description of the background process that calculates interest on deposits. Also note that interest is calculated when a deposit service agreement is stopped.