1. Operations User Guide
  2. Oracle Banking Origination
  3. Application Initiation
  4. Product Details
  5. Term Deposit Product Details

1.2.4.3 Term Deposit Product Details

This topic provides the systematic instructions to capture the account related information for the application.

If the Loan Account product is selected then Product Details screen is displayed.

Figure 1-32 Product Details (Term Deposit Account)


Description of Figure 1-32 follows
Description of "Figure 1-32 Product Details (Term Deposit Account)"

  1. Specify the fields on Account Details screen.

    Note:

    The fields, which mentioned as Required, are mandatory.
    For more information on fields, refer to the field description table.

    Table 1-15 Product Term Deposit Product Details – Field Description

    Field Description
    Account Type Displays the account type based on the product selected in the Product Catalogue.
    Business Product Name Displays the business product name based on the product selected in the Product Catalogue.
    Product Image Displays the business product image.
    Product Description Displays the short description captured for the product in the Business Product configuration.
    Account Branch By default, the logged-in user’s home branch is displayed. Search and select the account branch from the branch list.
    Account Currency

    Select the currency from the drop-down list, if required. Available options in the drop-down list are based on the currency allowed for the selected business product. By default, the base currency of user logged-in branch is displayed.

    This field is mandatory.
    Term Deposit Amount

    Select the currency and specify the loan amount. Select the currency from the drop-down list.

    This field is mandatory.
    Term Deposit Tenure

    Select the loan tenure in year, months and days.

    This field is mandatory.
    Compute

    Click Compute to populate the following fields:

    • Interest
    • Interest Amount
    • Maturity Amount
    Fund the Account The Fund the Account will always be ‘On’ for Term Deposit.
    Fund By

    Select the option from the drop-down list. Available options are:

    • Cash
    • Account Transfer
    • Other Bank Cheque
    Account Number Specify or search the account number. In case Account Transfer is selected as the Fund By mode, you need to update the Account Number. You can also search the account number by clicking the search icon.
    Account Name Displays the account name for the selected account number.
    Cheque Number

    Specify the cheque number.

    It is mandatory to update cheque number if the Other Bank Cheque option is select from funding mode.

    Cheque Date

    Select the cheque date.

    It is mandatory to update cheque date if the Other Bank Cheque option is select from funding mode.

    GL Account Number Specify the GL Account Number where the funding amount is to be credited. You can also search for GL Account Number.
    GL Account Description Displays the GL Account Description for the GL selected.
    Deposit Type Displays the deposit type Simple or Reinvestment Term Deposit, based on the business product configurations.
    Interest Payout Specify if the Interest Payout is to be done Monthly or Quarterly
    Interest Payout Mode Specify if the Interest Payout mode is by Transfer to Account or Demand Draft or External Account.
    Account Number

    In case Account Transfer is selected as the Interest Payout mode, you need to update the Account Number. You can also search the Account Number by clicking the search icon.

    This field is mandatory.
    Account Name Displays the account name for the selected account number.
    BIC Code

    In case External Account is selected as the Maturity Payout Mode, you need to update the Account Number. You can also search the Account Number by clicking the search icon.

    This field is mandatory.
    Bank Displays the Bank name.
    Branch Displays the branch name.
    Account Holder Name Specify the account holder name for the external account.
    External Account Number Specify the external account number.
    Maturity Instruction

    Select the maturity type from the drop-down list. Available options are:

    Available options for Simple Term Deposit are:

    • Renew Principal
    • Do not Renew

    Available options for Reinvestment Term Deposit are:

    • Renew Principal and Interest
    • Renew Principal Only
    • Do not Renew
    Maturity Payout Mode If the Maturity Instruction is selected either Do Not Renew or Renew Principal only for Reinvestment Term Deposit, you need to specify the Maturity Payout Mode. Select if the Maturity Payout Mode is Account Transfer or Demand Draft.
    Priority

    Specify the priority of the application.

    Available options are:

    • Low
    • Medium
    • High
    Source By Displays the logged-in user’s user ID and name. You can modify the user ID.
    E-Sign

    Specify whether the customer needs electronic communication.

    If the answer is Yes then it is mandatory to capture the e-mail ID for communication in the application.

    In case of joint applicants, if any one of the applicant has given consent for e-sign in the Customer Consent and Preference data segment then by fault this field is select as yes.

    Applicants This section displays the list of applicants that are involved in this account opening application.
    Name Displays the name of the applicant.
    Role Displays the role of the applicant in the application.
    Application

    To add application details while initiating the application, click this button. The Application Entry page appears

    The stage for the selected product appears based on the business process configured for the product.

    Based on the product configuration it is mandatory to capture Application Details while initiating the account opening application

    Account Type Displays the account type based on the product selected in the Product Catalogue.

Parent topic: Product Details