Breaking an FD

Introduction

The Breaking an FD screen facilitates the user to break the FD.

Navigation

The following is the navigation for this option:

• Click the Break the Deposit hyperlink in the Account Summary screen.

• The Breaking an FD screen is displayed.

Note:

This service request is available online (through FI), that is, Core database.

What you can do

The table below provides a brief description of the data that must be specified on the screen and the functions you can perform:

Field

Description

Service Requests

Select Activity Type

From the drop-down list, select New request to create a new service request or Query Request to query on the existing service requests:

• New Request

• Query Request

Click Continue.

Account Details

Account Nickname

Select the nickname from the drop-down list. Click Details. The following fields are populated.

Account Number

The account number.

Currency

The currency of the transaction.

Account Type

The type of account.

Account Category

The account scheme code or category under which the account is opened.

Account Status

The status of the account.

Primary Account Y/N

Indicates if the account is a primary account. A primary account is an account which a customer normally operates. For example, if you hold five different accounts, you must designate one account as the primary account. When you log on to the online banking system, the balances in your primary account are displayed by default. You can carry out transactions in this account. If you want to carry out transactions or view balances in any other account, you must specify the account number.

Account nickname

The nickname of the account.

Account name

The name of the account.

Account Opening Date

The date on which the account was opened.

Deposit Amount

The deposit amount.

Maturity Date

The date on which the fixed deposit matures.

Maturity Amount

The amount that is due to the account holder at the end of the maturity period.

Interest Rate

The rate at which interest is calculated for the account.

Request for Breaking FD

Amount to be broken

The amount to be broken from the fixed deposit account. Select the currency for the amount from the drop-down list.

FD Breaking Value Date

The value date of the fixed deposit break transaction.

Funds to be transferred to

Select the account number to which the funds from the FD should be transferred.

Proceeds to be paid by

The instrument to be used to transfer the amount. Select the Cheque radio button to transfer the amount using a cheque.

Remarks

Remarks about the request, if any.