3.1.1 Simulation

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

To perform TD simulation:

Note:

The fields marked as Required are mandatory.

1. On the Homepage, from the Retail Deposit Services mega menu, under Term Deposits and Transactions, click Account Opening, or specify Term Deposit Account Opening in the search icon bar and select the screen.
   The Term Deposit Account Opening screen is displayed.

   Figure 3-1 Term Deposit Account Opening

   
   Description of "Figure 3-1 Term Deposit Account Opening"
2. On the Term Deposit Account Opening 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 3-2 Customer ID section

      
      Description of "Figure 3-2 Customer ID section"
   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 3-3 Term Deposit Account Opening - Simulation

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

   Table 3-1 Term Deposit Account Opening - Simulation – Field Description

   Field	Description
   Customer ID	Specify the customer for whom the TD is to be opened. Note: The customer name is also displayed adjacent to the field.
   Product	Select the deposit product under which the TD is to be created. Note: For information, on the Product section, refer Fetch Product.
   Product Description	Display the description of the deposit product selected.
   Amount	Specify the deposit amount. Note: By default, the amount currency will be of product selected.
   Maturity	Select the option for TD maturity. The options are: Tenure: If you select this option, then specify the tenure for maturity in years, months, and days in the fields displayed adjacent. Date: If you select this option, then specify or select the date.
   Reinvest Interest	Switch to to reinvest the interest in TD. Switch to to be paid out the interest. Note: The interest amount is paid out during interest liquidations.
   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 3-4 Product section

      
      Description of "Figure 3-4 Product section"
   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 3-5 Negotiate Rate

      
      Description of "Figure 3-5 Negotiate Rate"
   2. On the Negotiate Rate screen, perform the required action. For more information on fields, refer to the field description table.

      Table 3-2 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 user defined elements that are already linked to the Interest product.
      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 row to the Effective Date and User Defined Values sections, by clicking the icon.
   4. Click OK.
5. On providing the inputs, a simulation will be triggered and displayed as output.
   The simulation details are displayed.

   Figure 3-6 Simulation Details

   
   Description of "Figure 3-6 Simulation Details"
6. Based on the input data provided, the system simulates the details of TD and displays them in a widget on the right side. For more information on fields, refer to the field description table.

   Table 3-3 TD Account Opening - Output Details – Field Description

   Field	Description
   Maturity Amount	Displays the maturity amount for the TD.
   Principal	Displays the total principal of the TD.
   Net Interest	Displays the Net interest on the principal (Interest – Tax).
   Interest Rate	Displays the Interest rate applicable for the TD.
   Maturity Date	Displays the maturity date of the TD.
   Tenor	Displays the tenor of the TD in Years, Months & Days.
   Part Redemption	Displays whether the part redemption is allowed for the deposit.
   Premature Redemption	Displays whether premature redemption is allowed for the deposit.
   Top-up	Displays whether the top-up is allowed for the deposit.
   View Interest Details	Click this link if the interest details are required to be viewed.
   Date	Displays the date of interest payout / compounding date.
   Reinvested Interest / Paid out Interest	Displays the reinvested interest / paid out interest.
   Principal	Displays Principal amount after the interest liquidation on this date.

   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.