- Teller User Guide
- Term Deposit Transactions
- TD Redemption Against Cash
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:
- 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.
- On the TD Redemption Against Cash screen, specify the
fields. For more information on fields, refer to the field description
table.
Note:
The fields marked as Required 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 ifMulti-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 ifMulti-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. -
- Specify the denomination details. For information on the fields in the Denomination segment, refer to Add Denomination Details.
- Specify the charge details. For information on the fields in the Charge Details segment, refer to Charge Details.
- 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.
Parent topic: Term Deposit Transactions