9.2 TD Redemption Against Cash

The Teller can use the TD Redemption Against Cash screen to initiate manual redemption of the cash from a term deposit account.

It is accomplished by the pre-mature redemption either in full or part, ahead of the maturity date or after the maturity date when TD is in grace days without maturing.

To perform TD redemption against cash:

1. On the Homepage, from Teller mega menu, under Term Deposit, click TD Redemption - Cash or specify TD Redemption - Cash in the search icon bar and select the screen.
   The TD Redemption Against Cash screen is displayed.

   Figure 9-8 TD Redemption Against Cash

   
   

   
   Description of "Figure 9-8 TD Redemption Against Cash"

   
   
2. On the TD Redemption Against Cash screen, specify the fields. For more information on fields, refer to the field description table.

   Note:

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

   Table 9-7 TD Redemption Against Cash - Field Description

   Field	Description
   Deposit Account	Specify the deposit account number.
   Query	Click Query to fetch the deposit details.
   Deposit Details	Specify the fields.
   Customer ID	Displays the Customer ID of the deposit account number.
   Account Name	Displays the account description of the deposit account.
   Principal Amount	Click Compute to get the amount paid at the time of term deposit booking.
   Interest Amount	Displays the default rate of interest at which the interest amount is calculated.
   Tax Amount	Displays the amount to be deducted towards tax.
   Interest Rate	Click Compute to get the current interest rate applicable after partial or full redemption.
   Maturity Amount	Displays the current maturity amount after partial or full redemption.
   Total Payout Amount	Displays the total payout amount.
   Redemption Details	Specify the fields.
   Redemption Mode	Select the redemption mode from the drop-down list (Partial Redemption or Full Redemption).
   Redemption Amount	Specify as mentioned below: If the Redemption Mode is selected as Partial Redemption, specify the redemption amount. If the Redemption Mode is selected as Full Redemption, it displays the principal amount as redemption amount.
   Waive Penalty	Check this box to waive the penalty for redeeming the term deposit. Note: This is applicable only if the Redemption Mode is selected as Full Redemption.
   Waive Interest	Check this box to waive the interest for redeeming the term deposit. Note: This is applicable only if the Redemption Mode is selected as Full Redemption.
   Transaction Currency	Specify the currency in which the cash is handed over to the customer during redemption.
   Transaction Amount	Displays the transaction amount based on the Redemption Amount and Transaction Currency. Note: If the deposit currency is different from the transaction currency, the system calculates the transaction amount based on the exchange rate. This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Exchange Rate	Displays the exchange rate applicable for the transaction based on the deposit currency and transaction currency. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Narrative	Displays the default narrative as Term Deposit Redemption Against Cash, and it can be modified.

3. Specify the denomination details. For information on the fields in the Denomination segment, refer to Add Denomination Details.
4. Specify the charge details. For information on the fields in the Charge Details segment, refer to Add Charge Details.
5. Click Submit.

   A teller sequence number is generated, and the Transaction Completed Successfully information message is displayed.

   Note:

   The transaction is moved to authorization in case of any warning raised when the transaction saves. When you submit, the transaction details are handed off to the Term Deposit module in FLEXCUBE Universal Banking for the TD redemption process.