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- Maturity date: Given commencement date and tenure length, maturity date is known.
- Accrued interest on maturity: Given the deposit does last until maturity date as intended, the amount of interest accrued on the deposit over the term can be calculate using an excel like FV algorithm
- Maturity amount: Given the deposit does last until maturity date as intended, this is simply the sum of origin deposit amount and the accrued interest on maturity.
- Recurring deposit Schedule Assuming that the monthly installments will be paid regularly interest will be calculated based on the recurring deposits as per the defined frequency.
- Maturity amount: maturity value is indicated to the customer assuming that the monthly installments will be paid regularly on due dates.
- Recurring deposit Schedule: Schedule of the Recurring deposit should be maintained, this is to track the un-paid schedules of the RD.
A status is automatically assigned to the deposit account of SUBMITTED_AND_AWAITING_APPROVAL (represented on database as integer value 100).