5.1.1 Simulation

You can add the basic RD details to simulate the interest and maturity value for the RD account.

To perform RD simulation:

Note:

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

1. On the Homepage, from the Deposit Services mega menu, under Recurring Deposits and then Transactions, click Account Opening, or specify Account Opening in the search icon bar and select the screen.
   The RD Account Opening - Application Entry screen is displayed.

   Figure 5-1 RD Account Opening - Application Entry

   
   Description of "Figure 5-1 RD Account Opening - Application Entry"
2. On the RD Account Opening - Application Entry screen, click the icon or specify the customer number in the Customer ID field, and press Enter or Tab.
   1. If you click the icon, then the following section is displayed:

      Figure 5-2 Customer ID

      
      Description of "Figure 5-2 Customer ID"
   2. Specify the customer ID in the Customer Number field.
   3. Click Fetch.
      The customer number and name are displayed in the table.
   4. Select the Customer Number from the table.
      The details related to the selected customer number are displayed in the tabs.

   Figure 5-3 RD Account Opening - Application Entry - Simulation

   
   Description of "Figure 5-3 RD Account Opening - Application Entry - Simulation"
3. Perform the required actions on the Simulation tab. For more information on fields, refer to the field description table.

   Table 5-1 RD Account Opening - Simulation – Field Description

   Field	Description
   Customer ID	Specify the customer for whom the RD is to be opened. Note: The customer name is also displayed adjacent to the field.
   Product	Select the deposit product under which the RD is to be created. Note: For information, on the Product section, refer Fetch Product.
   Installment Amount	Specify the amount for the RD. Note: By default, the amount currency will be of product selected.
   Installment Frequency	Select the frequency for the installment. The options are: Annual Semiannual Quarterly Monthly Fortnightly Weekly Daily
   Maturity	Select the option for RD maturity. The options are: Tenure: If you select this option, then specify the tenure for maturity in year, months, and days in the fields displayed adjacent. Date: If you select this option, then specify or select the date.
   Opening Date	Specify the deposit opening date.
   Branch Code	Displays the branch code of the teller’s logged in branch.

   • To fetch Product:
   1. Click icon from the Product field.
      The Product section is displayed.

      Figure 5-4 Product

      
      Description of "Figure 5-4 Product"
   2. Specify the number in the Account Class field.
   3. Click Fetch.
      The details are fetched and displayed in a table.
   4. Select the account class from the table.
4. You can negotiate the rate by performing the following action if required:
   1. Click the Negotiate Rate link.
      The Negotiate Rate section is displayed.

      Figure 5-5 Negotiate Rate

      
      Description of "Figure 5-5 Negotiate Rate"
   2. On the Negotiate Rate screen, specify the fields. For more information on fields, refer to the field description table.

      Note:

      The interest details based on the selected product will be dsiplayed. if required, you can capture the negotiated rate fields like variance etc.

      Table 5-2 Negotiate Rate – Field Description

      Field	Description
      Interest Rate	This section displays the interest rate details.
      Effective Date	Displays the date from which the interest rate is effective.
      Status	Displays the status of the interest.
      Action	Click Mark as Closed, to close the interest rate. Click View Details, to view the user defined values.
      User Defined Values	This section displays the user defined values details. Note: This section is displayed if you click View Details from the Action field.
      Element	Displays the element details.
      Value	Displays the user defined value.
      Rate Code	Displays the rate code for the user defined value.
      Deposit Rate Code	Displays the deposit rate code for the user defined value.
      Variance	Displays the variance for the user defined value.
      Action	Click the icon, to edit the user defined value details. Click the icon, to delete the user defined value entry. Click the icon, to confirm the edited details. This icon is displayed, only after you click the edit icon.

   3. You can also add new entry in the sections, by clicking the icon.
   4. Click OK.
5. On providing the inputs, a simulation will be triggered and displayed as output.
   The Simulated output details are displayed.

   Figure 5-6 Simulation Details

   
   Description of "Figure 5-6 Simulation Details"
6. Based on the input data provided, the system simulates the details of RD and displays them in a widget on the right side. For more information on fields, refer to the field description table.

   Table 5-3 RD Account Opening - Output Details – Field Description

   Field	Description
   Maturity Amount	Displays the maturity amount for the RD.
   Total Investment	Displays the total invested amount, that is, sum of all installments of the RD.
   Maturity Date	Displays the maturity date of the RD.
   Interest Rate	Displays the interest rate applicable for the deposit.
   Net Interest	Displays the net interest on the principal.

   Note:

   Once the deposit simulation is completed, you can provide the simulated details to the customer.
7. Click Next.
   The Payin Details tab is displayed.