12.3.3 Add Payout Details for Islamic TD
The Payout Details data segment is used to add the details of the maturity payment for the Islamic TD.
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Make sure that the deposit details are added to the Islamic TD Account Opening screen. For more information, refer to Islamic TD Account Opening.
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Specify the funding details. For more information, refer to Add Funding Details for Islamic TD.
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Specify the details of the joint holders. For more information, refer to Add Joint Holders for Islamic TD.
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After you specify the details of the joint holders, click on the Payout Details data segment.
In this data segment, you can add the parameters for automatic payout through either account transfer, banker's cheque, or demand draft.
To add the payout details:
Table 12-6 Payout Details - Field Description
Field | Description |
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Component Type |
Select the component type from the drop-down list. (Principal or Profit). |
Repayment By |
Select the repayment option from the drop-down list (Account, Bankers Cheque, or Demand Draft). |
Payment Account |
Specify the account to which the repayment is to be made. This field allows you to input only if repayment is by account. |
Account Branch |
Displays the account branch based on the payment account selected. |
Beneficiary Name |
Specify the name of the beneficiary for the payout of BC or
DD drawn.
Note: This field allows you to input only if the repayment is by BC or DD. |
Beneficiary Address 1 to Beneficiary Address 4 |
Specify the address of the beneficiary for the payout. |
Parent topic: Islamic TD Account Opening