Open a Deposit Account

Introduction

This screen lets the retail user to send a request for opening a deposit account. User has to fill in Account preferences details along with Renewal or Redeem details appropriately for the request. This request is available in both the modes � online and offline.

Navigation

The following is the navigation for this option:

• Click the Deposit Accounts � Open a Deposit Account  hyperlink in the New Requests  screen.

OR

•  Click Open a Deposit Account button in View Deposit Cards screen (Under Balance & Transaction Information < Deposit Accounts)

• The  Open a Deposit Account  screen is displayed.

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

Account Preferences

Deposit Amount

The amount to be deposited to open an FD account, this is mandatory.

Deposit Duration

The period of the fixed deposit in Years, Months and Days, this is mandatory.

Account Opening Date

The date on which the fixed deposit has to start. Select the date from calendar widget.

PAN Number

Specify the Pan number.

Debit Account

Account id to be debited for the deposit amount. From the drop-down list, select the account.

Valid Values:

 My Account

Linked Account

Fixed Deposit Branch

Specify the branch where the fixed deposit is to be opened. Look Up button can be used to get the list of bank branches.

Tax Operative

Indicate whether tax should be collected from the account or not.

Renewal or Redemption Instructions

Principal Maturity

Select whether the principal amount has to be renewed or redeemed.

Note:

If redeem is selected, then select the account to which the principal amount should be redeemed. Select the redemption mode from the options given:

• My Account

• Linked Account

•  Redeem through Cheque

Interest Payment

Specify instructions to be followed for interest payment. You can either select to renew or redeem interest on a monthly, quarterly, yearly basis or on maturity. Select the redemption mode from the options given:

•  My Account

•  Linked Account

• Redeem through Cheque

Remarks

Transaction Remarks

Enter remarks, if any, on account opening.