9.3 Recurring Deposit Payout Modification

You can view or modify the payout instructions maintained during the RD account opening using this screen. Also, you can create new payout instruction, if no instructions are maintained for the RD account.

To view the RD payout modification details:

Note:

The fields marked as Required are mandatory.
  1. On the Homepage, from the Retail Deposit Services mega menu, under Recurring Deposits and Maintenance, click Payout Modification, or specify Payout Modification in the search icon bar and select the screen.

    The Recurring Deposit Payout Modification screen is displayed.

    Figure 9-7 Recurring Deposit Payout Modification

    Description of Figure 9-7 follows
    Description of "Figure 9-7 Recurring Deposit Payout Modification"
  2. Select the appropriate option from the Search by field.
  3. Perform the required action, based on the option selected from the Search by field.
    The details are displayed.

    Figure 9-8 Recurring Deposit Payout Modification Details

    Description of Figure 9-8 follows
    Description of "Figure 9-8 Recurring Deposit Payout Modification Details"
  4. You can view the payout details displayed for the RD account.For more information on fields, refer to the field description table.

    Table 9-4 View RD Payout Details – Field Description

    Field Description
    Search by Users can search for an account number by using any of the available search criteria.

    The account number is set as the default search option. Users can specify the account number directly in the adjacent field or search for an account number by clicking the Search icon. Users can also search for the specific account number by providing customer ID, account number, or account name.

    Other search options available in the Search by field are Customer ID, SSN, Mobile Number, and Email.

    A specific customer ID can be searched by providing the customer name or customer ID. If SSN, mobile, or email IDs are chosen to find an account number, the respective IDs have to be input entirely in the adjacent field for the system to display the account number. For a given search criteria, multiple account numbers may be linked.

    For example, two or more account numbers can be linked to a single mobile number. In such cases, the system displays all the account number matches and the user can select the relevant account number on which to perform a servicing operation.

    Note:

    The label of the field adjacent to the Search by field changes dynamically. For example, if the Account number is chosen as the search criteria, the label of the adjacent field is displayed as the Account Number. If SSN is chosen as the search criteria, then the adjacent field would display the label as SSN.

    Deposit Details

    Displays the principal balance, the rate of interest, and the tenor of the TD account.

    Maturity Details

    Displays the amount due to the customer on maturity and the maturity date.

    Status
    Displays the status of the TD account. The possible options are:
    • Active
    • Overdue
    • Closed

    Reinvested Interest or Interest Paid

    		 Displays the amount and currency for the reinvested or paid out interest.

    Note:

    • If the interest if of reinvest type, then the field name is displayed as Reinvested Interest.
    • If the interest if of paid out type, then the field name is displayed as Interest Paid.

    Tax Deducted

    Displays the tax amount deducted till date.

    Instruction for
    Select the payout instruction option. The possible options are:
  5. Click Submit.
    The screen is successfully submitted for authorization.

Parent topic: RD Maintenances