Contents:

Many MFIs across the world want to encourage their clients to open savings account and save a part of the income being generated by the loans provided. Savings account product in Mifos currently meets a part of the savings account requirements for clients.

However to encourage clients for long term savings, MFIs want to provide a savings product similar to a certificate of deposit whereby a client deposits certain amount of money in a savings account for a fixed duration of time. Clients are paid a fixed amount (Principal+Interest) at the end of the fixed duration. Also to discourage clients from withdrawing or closing the account before the end of the term, there is a need for MFIs to charge a penal interest/charge in case the account is closed before the end of the fixed duration

List Goals of feature

• To add the fixed/term deposit savings product support to the Mifos product functionality

The following items will not be addressed in this release:

• item 1

• item 2

• Mandatory fields will be preceded by "*" (an asterisk)

• Links are italicized

• Buttons are Button

*insert links to related specs here

List high level user stories - these can be broken down later into small user stories / user tasks if needed

Actors

• Mifos administrator or user with permission to create a Term deposit product ( administrator role assigned)

Preconditions

• Administrator is logged into Mifos and has permissions

Basic Flow

1. Mifos Administrator ( or user with appropriate permissions) logs into Mifos

2. User navigates to the Admin Screen

3. User clicks on the "Define Term Deposit product" link

4. User enters the required information -product name, interest calculation etc - ( refer FR #4.1 for full list of attributes/fields) and clicks on preview

5. User submits the information

Post-conditions

• Term deposit product with the required attributes should be created

Alternative Flows

Validations

1. If an attribute is  mandatory,  a validation message should be displayed when the preview button is clicked.The error message should read  "Please specify a value for field : ". For the list of mandatory fields, refer the section 9 of the document

2. If any special characters are entered in the name column, an error message "Enter valid name in the Product Instance name value" should be displayed.

Actors

• Mifos administrator or user with permission to create and edit a Term Deposit product ( administrator role assigned)

Preconditions

• Administrator is logged into Mifos and has permissions

Basic Flow

1. Mifos Administrator ( or user with appropriate permissions) logs into Mifos

2. User navigates to the Admin Screen

3. User clicks on the "View term Deposit product" link

4. User enters/edits the required information -product name, interest calculation etc - ( refer FR #4.2 for full list of attributes which are editable) and clicks on preview

5. User submits the information

Post-conditions

• Term deposit product with the required attributes should be saved with the changed information

Alternative Flows

Validations

1. If an attribute is  mandatory,  a validation message should be displayed when the preview button is clicked.The error message should read  "Please specify a value for field : ". For the list of mandatory fields, refer the functional spec

2. If any special characters are entered in the name column, an error message "Enter valid name in the Product Instance name value" should be displayed.

The validations should follow the attributes definition mentioned in FR#9 and section 9

Actors

• Mifos administrator or user with permission to assign and modify permissions ( administrator role assigned)

Preconditions

• Administrator is logged into Mifos and has permissions to modify other role permissions

Basic Flow

1. Mifos Administrator ( or user with appropriate permissions) logs into Mifos

2. Navigates to the Admin Screen

3. Navigates to "Manage Roles and Responsibilities" link and clicks on an existing or creates a new role

Post-conditions

• Under product definition, the new sub Category - Term Deposit products should be viewable with sub categories for

  • Can define new term deposit product instance

  • Can edit new term deposit product instances

• User should be able to click on the permission and submit.

Alternative Flows

Validations

Actors

• Mifos administrator or user with permission to assign and modify permissions ( administrator role assigned)

Preconditions

• Administrator is logged into Mifos and has permissions to modify other role's permissions

Basic Flow

1. Mifos Administrator ( or user with appropriate permissions) logs into Mifos

2. Navigates to the Admin Screen

3. Navigates to "Manage Roles and Responsibilities" link and clicks on an existing or creates a new role

4. A new category "Term Deposit Management" should be available to assign permissions

Post-conditions

• Under Terms Deposit Management category, permissions associated with term deposit transactions such as

  • Creation of a term deposit account

  • update a term deposit account

  • Can change state to active etc should available to be assigned to the role. ( For full list of permissions, refer to the FR#4.3)

• User should be able to click on the permission and submit.

Alternative Flows

Validations

Actors

• Mifos user with permission to create a Term Deposit account

Preconditions

• User is logged into Mifos and a center/group/client is already created

Basic Flow

1. Log into Mifos

2. navigate to Branch->loan officer->center->Group->client for creating a term deposit account for Client. The navigation will change appropriately for creating a term deposit account for a Group or a center

3. The "open new account" option should display "Term Deposit" next to the Loans|Savings account links

4. Click on the "Term deposit" click

5. The available Term deposit accounts should be visible in the next screen

6. Choose a term deposit from the available list of products

Post-conditions

    1. The term deposit product instance attributes should be visible as a summary

    2. The following fields should be available for user entry : Term Deposit Amount, Term Start Date, Term End Date

    3. Clicking on the "Continue", should show the maturity value of the deposit at end of the term.

    4. Clicking on "Save for Approval" button should save the account details and modify the account status to " Application Pending Approval "

    5. The status change for the account should be visible under the "View change log" and "View status history".

 Alternative Flows

   1. Clicking on the "Save for later" button should save the account details and modify the account status to " Partial Application"

  Validations

  1. If the user clicks on the continue button without entering the Amount , an error message "Please specify the amount for account creation" should be mentioned

  2. If the user clicks on the continue button without entering the Term Start date OR Term End date, an error message " Please specify the term start date or end date" should be displayed

Actors

• Mifos user with permission to approve or Edit a Term Deposit account

Preconditions

• User is logged into Mifos and a center/group/client is already created

• A term deposit account in "Application Pending Approval" status exists

Basic Flow

1. Log into Mifos

2. navigate to Branch->loan officer->center->Group->client. The navigation will change appropriately for creating a term deposit account for a Group or a center

3. On the client summary, click on the term deposit account link next to the Loans| Savings account links

4. Click on the term deposit account number

5. The Term deposit accounts details should be visible.

6. Click on "Edit account status" link

7. Select the "Active" radio button, enter notes and click on preview

Post-conditions

    1. The term deposit account status should change to "Active"

    2. The status change for the account should be visible under the "view change log" and "view status history".

    3. A transaction for the amount deposited in the term deposit account should be recorded and "view transaction history"  should display a transaction.

 Alternative Flows

  1. When the user clicks on the "Edit account Status" link, three options - "Partial Application","Active" and "Cancelled"  should be shown

  2. Clicking on cancel and entering the comments should close the account status to "cancelled" status.

Validations

  1. If a user who does not have permissions to approve term deposits logins and tried to change the status of the loan to "active" , an error message " You do not have permissions to perform this activity. Contact your system administrator to grant you required permissions and try again" should be displayed

Actors

• Mifos user with permission for making Term Deposit transactions

Preconditions

• User is logged into Mifos and a center/group/client is already created

• A term deposit account with interest rate is created, approved

• the account's term end date has passed and the payout is due today .i.e the deposit's term has been completed.

Basic Flow

1. Log into Mifos

2. Navigate to Branch->Loan officer->Center->Group->Client.The navigation will change appropriately for creating a term deposit account for a Group or a Center.

3. On the client summary, click on the term deposit account link next to the Loans|Savings account links

4. Click on the term deposit account number

5. The Term deposit accounts details should be visible.

6. Click on the "payout/close account" option

Post-conditions

    1. On a new screen,  the following fields should be shown on the account payout/close screen : - Date of transaction, Amount( Should be calculated), Mode of Payment, Receipts, Receipt ID and notes

    2. The amount calculated should be based on terms & conditions entered while creating the account.Since the payout is due today, the amount to be paid out should be as calculated during the account creation.

  3. The status change for the account should be visible under the "View change log" and "View status history".   

  4. A transaction for the amount paid out ( interest +principal)  in the term deposit account should be recorded and "view transaction history"  should display a transaction for the amount paid out with the appropriate GL entries.

 Alternative Flows

Validations

  1. If a user does not select the mode of payment , then an error "Please specify the mode of payment" must be shown

  2. If the user does not enter any value in the notes column, an error message " Please specify notes value" must be shown

Actors

• Mifos user with permission for making Term Deposit transactions

Preconditions

• User is logged into Mifos and a center/group/client is already created

• A term deposit account with interest rate is created, approved

• The term deposit account's period should be current status

Basic Flow

1. Log into Mifos

2. navigate to Branch->loan officer->center->Group->client. The navigation will change appropriately for creating a term deposit account for a Group or a Center.

3. On the client summary, click on the term deposit account link next to the Loans| Savings account links

4. Click on the term deposit account number

5. The Term deposit accounts details should be visible.

6. Click on the "payout/close account" option

Post-conditions

    1. On a new screen, the following fields should be shown on the account payout/close screen : - Date of transaction, Amount( Should be calculated), Mode of Payment, Receipts, Receipt ID and notes

    2. The amount calculated should be based on the terms & conditions ( attributes) defined in the term product definition. Since the term deposit account is being closed before the end of term, the interest should be paid out prorata and at the early "pay out/penalty" interest rate.

3. The status change for the account should be visible under the "view change log" and "view status history".   

  4. A transaction for the amount paid out ( interest +principal)  in the term deposit account should be recorded and "view transaction history"  should display a transactions for the amount paid out with appropriate GL entries.

 Alternative Flows

Validations

  1. If a user does not select the mode of payment , then an error "Please specify the mode of payment" must be shown

  2. If the user does not does not enter any value in the notes column, an error message " Please specify notes value" must be shown

Actors

• Mifos user with permission for making Term Deposit transactions

Preconditions

• User is logged into Mifos and a center/group/client is already created

• A term deposit account with interest rate is created, approved

• The term deposit account's end date should have passed.

Basic Flow

1. Log into Mifos

2. navigate to Branch->loan officer->center->Group->client

3. On the client summary, click on the term deposit account link next to the Loans| Savings account links

4. Click on the term deposit account number

5. The Term deposit accounts details should be visible.

6. Click on the "payout/close account" option

Post-conditions

    1. On a new screen, the following fields should be shown on the account payout/close screen : - Date of transaction, Amount( Should be calculated), Mode of Payment, Receipts, Receipt ID and notes

    2. The amount calculated should be based on the terms & conditions ( attributes) defined in the term product definition. Since the term deposit account is being after the end date, for the days after the term end date, the interest should be calculated based on the default Savings interest rate set up.

   3. The total payout should include the term deposit interest and the default savings interest

 Alternative Flows

Validations

  1. If a user does not select the mode of payment , then an error "Please specify the mode of payment" must be shown

  2. If the user does not does not enter any value in the notes column, an error message " Please specify notes value" must be shown