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A Deposit Account is an instance of a Deposit productProduct. A Every Deposit Account Account has a unique account number, and an interest rate (depending on the term and it is ). Deposit Accounts are owned by the clientClients.

A Deposit account Account can be created for an active client based based on a deposit product Deposit Product that is active on the submitted date. When a deposit account Deposit Account is created, it inherits the rules and defaults default configurations from the deposit productDeposit Product. Your financial institution may allow some of the inherited information to be modified for a deposit accountDeposit Account, depending on how the deposit product Deposit Product is defined.

Deposit Account Accounts can be created for:

Fixed Deposit Product (FD Product)
Recurring Deposit Product (RD Product)

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Creating a Deposit Account

For

(for Fixed Deposit Product

:
1. Go

)

Go to the Clients List

and select any Client to whom

by navigating to Clients → Clients from the top menu bar.

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Select the Client (for whom the FD account needs to be created) from the list of clients.

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2.

In the Client's profile,

Go to

click on the 'More' option and click on 'New Fixed Deposit' from the drop-down menu.

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3.

After clicking on 'New Fixed Deposit', the Fixed Deposit Application will open (as shown below).

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NOTE: Fields with a red asterisk "*" beside them are mandatory.

Field Name	Description	Example	Validations
Submitted On	Enter the FD Application Submitted Date provided by the Client.
Deposit Amount	Enter the Deposit Amount ( It Should it should be in between the minimum and maximum deposit amount provided in the FD product).
Deposit Period	Provide the duration of the deposition.
Locking Period	The amount can be locked for a given period during which withdrawal or premature closure of FD Account is not possible.
Link Savings	Once the FD reaches to maturity, the interest can be posted to the given savings account.

45. Once all the details are entered in the FD application and the application has been submitted, it needs to be approved with date.

56. Finally, the FD account needs to be activated with the specified date. Click on the blue "Activate" button in the top-right corner to activate.

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See For more information on how to create Recurring Deposit Accounts, see Recurring Deposit Account.

Versions Compared

Old Version 16

New Version 17

Key

Creating a Deposit Account

(for Fixed Deposit Product

)

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