6.1 Create Amount Block

You can block the RD amount. A Recurring Deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions, and so on.

A Recurring deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions , and so on. Also, the Bank might receive request from any authorized external agencies to block the RD amount.

To create amount block:

Note:

The fields, which are marked with an asterisk, are mandatory.

1. On the Homepage, from the Deposit Services mega menu, under Term Deposits and Maintenance, click Create Amount Block, or specify Create Amount Block in the search icon bar and select the screen.
   The Create Amount Block screen is displayed.

   Figure 6-1 Create Amount Block

   
   Description of "Figure 6-1 Create Amount Block"
2. On the Create Amount Block screen, specify the account number in the Account Number field, and press Enter or Tab.
   The details for the account entered are displayed.

   Figure 6-2 Create Amount Block Details

   
   Description of "Figure 6-2 Create Amount Block Details"
3. Perform the required actions on the Create Amount Block screen. For more information on fields, refer to the field description table.

   Table 6-1 Create Amount Block – Field Description

   Field	Description
   Account Number	Specify the account number for performing the block. Note: The account holder's name is displayed adjacent to the field. The customer information is displayed at the right of the screen.
   Amount To Be Blocked	Specify the RD amount to be blocked. By default, the RD currency is displayed.
   Block Reason	Select the reason for the block.
   Effective Date	Specify or select the effective date for the block. Note: This date cannot be less than current process date.
   Expiry Date	Specify or select the expiry date for the block. Note: This date cannot be less than current process date and effective date.
   Narrative	Specify the narration, if any for the block.

4. Click Submit.
   The screen is successfully submitted for authorization.