1. Deposit Services User Guide
  2. RD Maintenances
  3. Recurring Deposit Amount Block

8.1 Recurring Deposit Amount Block

You can block the RD amount. A Recurring Deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions, and so on.

A Recurring deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions , and so on. Also, the Bank might receive request from any authorized external agencies to block the RD amount.

To create amount block:

Note:

The fields marked as Required are mandatory.
  1. On the Homepage, from the Retail Deposit Services mega menu, under Term Deposits and Maintenance, click Create Amount Block, or specify Create Amount Block in the search icon bar and select the screen.
    The Create Amount Block screen is displayed.

    Figure 8-1 Recurring Deposit Amount Block

    Description of Figure 8-1 follows
    Description of "Figure 8-1 Recurring Deposit Amount Block"
  2. On the Recurring Deposit Amount Block screen, click the Search icon or specify the account number in the Account Number field, and press Enter or Tab.
    The details for the account entered are displayed.

    Figure 8-2 Recurring Deposit Amount Block Details

    Description of Figure 8-2 follows
    Description of "Figure 8-2 Recurring Deposit Amount Block Details"
  3. Perform the required actions on the Recurring Deposit Amount Block screen. For more information on fields, refer to the field description table.

    Table 8-1 Recurring Deposit Amount Block – Field Description

    Field Description

    Account Number

    		 Click the Search icon and select the account number or specify the account number for creating amount block on RD account.

    Note:

    • The account holder's name is displayed adjacent to the field.
    • The customer information is displayed at the right of the screen.

    Amount To Be Blocked

    		 Specify the RD amount to be blocked. By default, the RD currency is displayed.

    Block Reason

    		 Select the reason for the block.
    Effective Date Specify or select the effective date for the block.

    Note:

    This date cannot be less than current process date.
    Expiry Date Specify or select the expiry date for the block.

    Note:

    This date cannot be less than current process date and effective date.
    Narrative Specify the narration, if any for the block.
  4. Click Submit.
    The screen is successfully submitted for authorization.

Parent topic: RD Maintenances