FD Renewal

Introduction

The FD Renewal screen allows the user to renew the FD.

Navigation

The following is the navigation for this option:

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

  • The FD Renewal 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:

Click Continue.

Renew Fixed Deposit

Select the number of the fixed deposit account to be renewed from the drop-down list and click Details. The following fields are displayed.

Current FD Amount

The current value of the fixed deposit.

Current Maturity Amount

The current maturity value of the fixed deposit.

FD Maturity Date

The date on which the fixed deposit should  mature

FD Maturity Period

The duration taken for the fixed deposit was held, in days and months.

Renewal Instructions

Specify the instructions to be carried out for renewal of the FD. Select the relevant radio buttons against the renewal instructions. You can either:

  • Renew Principal and Interest

  • Renew only the Principal and redeem the Interest

  • Renew only Interest and redeem the Principal

All the above can be either deposited to a selected account or collected by cheque.

Instructions for Interest Calculation

Select the relevant radio buttons against the instructions for interest calculation to:

  • Calculate Inflow

  • Calculate Outflow

Interest can be either:

  • calculated and reinvested either monthly or quarterly

  • calculated and redeemed either monthly or quarterly

Branch For FD Renewal

Specify the branch code at you which you want to renew the FD account.

FD Renewal Period

The duration for which the fixed deposit should be renewed in days and months.

Remarks

Remarks about the renewal of a fixed deposit, if any.

 

Click

To

Select Charge Debit Account

Select the account to which charges should be debited from the drop-down list provided.

Submit

Submit the FD renewal request form. Enter user name and transaction password to confirm the submission. You can submit this request online or off-line. If the request is submitted online, it is processed immediately. If it is submitted offline, then it is processed after a period of time as indicated by the bank.

If the request can be submitted in both, online and offline mode, then Submit Online and Submit Offline buttons are displayed.

Back

Return to the previous screen.