5.3 Redemption

You can redeem a RD using the Redemptionscreen.

You also can provide a snapshot of the net proceeds to the customer, if the customer redeems the deposits today. If the customer is satisfied with the projection, and wants to proceed to the redemption, you can also procced with the process in this same screen. The redemption simulation gives an option of full redemption only for RD, along with an input to waive penalty. The net proceeds due to the customer will be displayed along with the breakup of principal, interest, penalty and tax.

This topic contains the following subtopics:

• Redemption Simulation
  You can add the basic RD details to simulate the redemption transaction to get interest, tax and redemption.
• Payout Details
  You can add the payout modes for the net proceeds using this tab. Funds can be paid by different modes – CASA Account, New Term Deposit, Banker’s Cheque, Demand Draft, Ledger (Single-mode settlement) or a combination of these modes (Multimode settlement).
• Additional Details
  You can maintain the additional details for the RD redemption.