1. Deposit Services User Guide
  2. TD Transactions
  3. Redemption
  4. Payout Details

2.4.2 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).

The prerequisites are as follows:
  • Add the redemeption details. For more information, refer Redemption.

To maintain the payout details:

Note:

The fields, which are marked with an asterisk, are mandatory.
  1. In the Payout Details tab, you can pay through any of the following options:
    1. Select Account from Payout Mode field.
      The field related to own account are displayed.

      Figure 2-46 Payout Mode as Own Account

      Description of Figure 2-46 follows
      Description of "Figure 2-46 Payout Mode as Own Account"
    2. You can maintain the own account details for the payout.For more information on fields, refer to the field description table.

      Table 2-35 Pay through CASA - Own CASA Account – Field Description

      Field Description
      Payout Mode Select the Account option to perform the payout.

      Note:

      For information on Instrument and Ledger, refer Payout Mode as InstrumentPayout Mode as Ledger.
      Account Select the own account.

      Note:

      For information if you select Other option, refer Payout Mode as Other CASA Account and Payout Mode as Other Term Deposit Account.

      Exchange Rate Displays the exchange rate.

      Note:

      This field is displayed only if there is cross currency transaction.
    • Payout Mode as Other CASA Account
    1. Select Account from Payout Mode field.
      The fields related to account are displayed.

      Figure 2-47 Payout Mode as Other CASA Account

      Description of Figure 2-47 follows
      Description of "Figure 2-47 Payout Mode as Other CASA Account"
    2. Perform the required action for other CASA account. For more information on fields, refer to the field description table.

      Table 2-36 Payout Mode as Other CASA Account – Field Description

      Field Description
      Payout Mode Select the Account option to perform the settlement.

      Note:

      For information on Instrument and Ledger, refer Payout Mode as InstrumentPayout Mode as Ledger.
      Account Select the Other option.

      Note:

      For information if you select own account, refer Payout Mode as Own Account.

      Type Select the type as CASA for payout.

      Note:

      For information if you select Term Deposit option, refer Payout Mode as Other Term Deposit Account.
      Account Amount Displays the account debit amount in CASA account currency.
    • Payout Mode as Other Term Deposit Account
    1. Select Account from Payout Mode field.
      The fields related to account are displayed.

      Figure 2-48 Payout Mode as Other Term Deposit Account

      Description of Figure 2-48 follows
      Description of "Figure 2-48 Payout Mode as Other Term Deposit Account"
    2. Perform the required action for other TD account. For more information on fields, refer to the field description table.

      Table 2-37 Payout Mode as Other TD Account - Field Description

      Field Description
      Payout Mode Select the Account option to perform the settlement.

      Note:

      For information on Instrument and Ledger, refer Payout Mode as InstrumentPayout Mode as Ledger.
      Account Select the Other option.

      Note:

      For information if you select own account, refer Payout Mode as Own Account.

      Type Select the type as Term Deposit for payout.

      Note:

      For information if you select CASA option, refer Payout Mode as Own Account and Payout Mode as Other CASA Account.

      Deposit Product
      Select the account class under which the new TD is to be opened.

      Note:

      For information on fields displayed if you click the Search icon, refer Fetch Deposit Product.

      Maturity
      Select the maturity for the TD. The options are:
      • Tenure: If you select this option, then select or specify the maturity in Years, Months, and Days field.
      • Date: If you select this option, then specify or select the date for maturity.

      Interest Rate

      Displays the interest rate applicable for the TD.

      Reinvest Interest

      Displays whether the interest is to be reinvested in the RD itself or paid out.
      • To fetch deposit product:
        1. Click the Search icon from the Deposit Product field.

          The Deposit Product section is
              displayed.

          Figure 2-49 Deposit Product

          Description of Figure 2-49 follows
          Description of "Figure 2-49 Deposit Product"
        2. Specify the class or currency in the Account Class and Currency field and click Fetch.
        3. Select the option displayed in the table.
    3. Click the Negotiate Rate link, to negotiate the interest rate appliedon TD.
      The Negotiate Rate section is displayed.

      Figure 2-50 Negotiate Rate

      Description of Figure 2-50 follows
      Description of "Figure 2-50 Negotiate Rate"
    4. On the Negotiate Rate screen, specify the fields. For more information on fields, refer to the field description table.

      Table 2-38 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 Edit icon, to edit the user defined value details.

      Click the Delete icon, to delete the user defined value entry.

      Click the Tick icon icon, to confirm the edited details. This icon is displayed, only after you click the edit icon.

    5. You can also add new row to the Effective Date and User Defined Values sections, by clicking the Add icon.
    6. Click OK.
    • Payout Mode as Instrument
    1. Select Instrument from Payout Mode field.
      The fields related to Instrument are displayed.

      Figure 2-51 Payout Mode as Instrument

      Description of Figure 2-51 follows
      Description of "Figure 2-51 Payout Mode as Instrument"
    2. Perform the required action for instrument payout. For more information on fields, refer to the field description table.

      Table 2-39 Payout Mode as Instrument – Field Description

      Field Description
      Payout Mode Select the Instrument option to perform the settlement.

      Note:

      For information on CASA and Ledger, refer Payout Mode as Own Account, Payout Mode as Other CASA Account, and Payout Mode as Ledger.
      Type Select the type of instrument for payout. The options are:
      • Banker's Cheque
      • Demand Draft
      Payable Bank Specify the bank at which the TD is payable.

      Note:

      For information on fields displayed as you click Search icon, refer Fetch Payable Bank.
      Payable Branch Specify the branch at which the BC or DD is payable.

      Note:

      For information on fields displayed as you click Search icon, refer Fetch Payable Branch.
      Issuing Branch Displays the branch issuing the instrument.
      Instrument Specify the routing number, BC or DD number and instrument date.
      Payee Name Specify the payee name for the payout.
      Payee Address Specify the payee address for the payout.
      • To fetch the payable bank:
        1. From the Payable Bank field, click the Search icon from the first field.

          The Payable Bank section is
              displayed.

          Figure 2-52 Payable Bank

          Description of Figure 2-52 follows
          Description of "Figure 2-52 Payable Bank"
        2. Specify the code in the Bank Code field and click Fetch.
        3. Select the code displayed in the table.
      • To fetch the payable branch:
        1. From the Payable Branch field, click the Search icon field.

          The Payable Branch section is
              displayed.

          Figure 2-53 Payable Branch

          Description of Figure 2-53 follows
          Description of "Figure 2-53 Payable Branch"
        2. Specify the code in the Branch Code field and click Fetch.
        3. Select the code displayed in the table.
    • Payout Mode as Ledger
    1. Select Ledger from Payout Mode field.
      The fields related to Ledger are displayed.

      Figure 2-54 Payout Mode as Ledger

      Description of Figure 2-54 follows
      Description of "Figure 2-54 Payout Mode as Ledger"
    2. Perform the required action for ledger. For more information on fields, refer to the field description table.

      Table 2-40 Payout Mode as Ledger - Field Description

      Field Description
      Payout Mode Select the Ledger option to perform the settlement.

      Note:

      For information on CASA and Instrument, refer Payout Mode as Own Account, Payout Mode as Other CASA Account, and Payout Mode as Instrument.
      Ledger Code Specify the ledger code used for the transaction.

      Note:

      For information on fields displayed as you click the Search icon, refer Fetch Ledger Code.
      Currency Display the currency for the GL.
      • To fetch ledger code:
        1. From the Code field, click the Search icon field.

          The Code section is
              displayed.

          Figure 2-55 Ledger Code

          Description of Figure 2-55 follows
          Description of "Figure 2-55 Ledger Code"
        2. Specify the code in the Code field and click Fetch.
        3. Select the code displayed in the table.
    • Pay through Multi Mode Settlement
    1. In the Payout Details tab, click the Multi Mode Settlement Options link.
      The fields to perform multi mode settlement are displayed.

      Figure 2-56 Pay through Multi Mode Settlement

      Description of Figure 2-56 follows
      Description of "Figure 2-56 Pay through Multi Mode Settlement"
    2. Click the Add icon, to add settlement modes.
      The fields to add settlements are displayed.

      Only the Pay field is an additional field displayed in this section, remaining all fields are same as displayed in the Payout Mode as Own Account, Payout Mode as Other CASA Account, Payout Mode as Other Term Deposit Account, Payout Mode as Instrument, and Payout Mode as Ledger.

    3. Select the appropriate option from the Pay field.
      • If you select Amount option, then the currency is displayed and you need to specify the amount in the field displayed adjacent to this field.
      • If you select Percentage option, then specify the percentage in adjacent field.
    4. Click Save.
      The settlement is added in the table above.
    5. You can edit or delete the settlement entry if required.For more information on fields, refer to the field description table.

      Table 2-41 Multi Mode Settlement Options – Field Description

      Field Description
      Mode Displays the settlement mode.
      Description Displays the details available for the settlement modes.
      Amount Displays the amount available in the specific settlement mode.
      Action

      Click the Edit icon to edit the amount.

      Click the Delete icon to delete the settlement mode.

      Total Displays the total of the settlement amount.
      • To go back to the single mode option, click the Single Mode Settlement Options link.
  2. Click Next.
    The Additional Details tab is displayed.

Parent topic: Redemption