1. Deposit Services User Guide
  2. RD Transactions
  3. Account Opening
  4. Payout Details

5.1.3 Payout Details

You can add maturity instructions to be provided for the RD in the Payout Details tab. These instructions can be modified later before maturity.

The prerequisites are as follows:

  1. Add the simulation details. For more information, refer Simulation.
  2. Specify the payin details. For more information, refer to Payin Details.

To add the payout details:

Note:

The fields, which are marked with an asterisk, are mandatory.
  1. On the Payout Details tab, perform any of the following action:
    • Reinvest Interest Enabled
    1. Swtich to Toggle On from the Reinvest Interest field.

      Figure 5-8 Reinvest Interest Enabled

      Description of Figure 5-8 follows
      Description of "Figure 5-8 Reinvest Interest Enabled"
    2. Select or specify the details as required. For more information on fields, refer to the field description table.

      Table 5-5 Payout Details – Reinvest Interest Enabled - Field Description

      Field Description

      Reinvest Interest

      Switch to Toggle On to reinvest the interest in RD.

      Maturity Payout Mode
      Select the maturity payout mode. The options are:
      • Account
      • Banker's Cheque
      • Demand Draft

      Account
      Select the type of account.

      Note:

      This field is displayed if Account option is selected from the Maturity Payout Mode field.

      Account Number
      Specify the CASA account number.

      Note:

      This field is displayed if Others option is selected from the Account field.

      Payable Branch
      Select the banker's cheque payable branch.

      Note:

      This field is displayed if Banker's Cheque or Demand Draft option is selected from the Maturity Payout Mode field.
    • Reinvest Interest Not Enabled
    1. Swtich to Toggle Off from the Reinvest Interest field.

      Figure 5-9 Reinvest Interest Not Enabled

      Description of Figure 5-9 follows
      Description of "Figure 5-9 Reinvest Interest Not Enabled"
    2. Select or specify the details as required. For more information on fields, refer to the field description table.

      Table 5-6 Payout Details – Reinvest Interest Not Enabled – Field Description

      Field Description

      Reinvest Interest
      Switch to Toggle Off to be paid out the interest.

      Note:

      The interest amount is paid out during interest liquidations.
      Interest Payout Mode
      Select the maturity payout mode. The options are:
      • Account
      • Banker's Cheque
      • Demand Draft

      Account
      Select the type of account.

      Note:

      This field is displayed if Account option is selected from the Interest Payout Mode field.

      Account Number
      Specify the CASA account number.

      Note:

      This field is displayed if Others option is selected from the Account field.

      Payable Branch
      Select the banker's cheque payable branch.

      Note:

      This field is displayed if Banker's Cheque or Demand Draft option is selected from the Interest Payout Mode field.
      Principal Payout Mode

      Select the principal payout instructions for the deposit.
      Amount
      Specify the special renewal amount.

      Note:

      • This field is enabled only if Special Amount Renewal option is selected from the Maturity Instructions field.
      • Also, the TD currency will be defaulted and not enabled.

      Account
      Select the type of account.

      Note:

      This field is displayed if Account option is selected from the Principal Payout Mode field.

      Account Number
      Specify the CASA account number.

      Note:

      This field is displayed if Others option is selected from the Account field.

      Payable Branch
      Select the banker's cheque payable branch.

      Note:

      • This field is displayed if Banker's Cheque or Demand Draft option is selected from the Principal Payout Mode field.
      • For more information on the Payable Branch section, refer Fetch Payable Branch.
      To fetch Payable Branch:
      1. Click Search icon from the Payable Branch field.

        The Payable Branch section is displayed.

        Figure 5-10 Payable Branch

        Description of Figure 5-10 follows
        Description of "Figure 5-10 Payable Branch"
      2. Specify the number in the Branch Code field.
      3. Click Fetch.

        The details are fetched and displayed in a table.

      4. Select the branch code from the table.
  2. Click Next.
    The Additional Details tab is displayed to capture the other RD account-related details.

Parent topic: Account Opening