Open a Deposit Account

Introduction

This screen allows the user to open a new fixed deposit account.

Navigation

The following is the navigation for this option:

• Click the Open a Deposit Account hyperlink in the View Deposit Accounts screen.

• 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

Basic Account Details

Deposit Amount

The amount to be deposited to open an FD account. This is a mandatory field.

Deposit Duration

The period of the fixed deposit in years, months and days.  This is a mandatory field.

Account Opening Date

The date when the account should be opened. Select the date from calendar widget. This is a mandatory field.

PAN Number

The PAN number of the user.

Debit Account

The account to be debited for booking the deposit account.

Valid Values:

My Account

Linked account

Fixed Deposit Branch

Specify he branch in which the fixed deposit is to be booked.  Click on the Lookup button to retrieve the list of the branches.

Tax Operative

Indicate whether tax should be collected from the account at the time of interest payment, if interest exceeds the non taxable limit.

Renewal or Redemption Instructions

Principal Maturity

Specify instructions to be followed when the principal amount matures.

Valid Values:

Renew Principal

Redeem Principal

Where redemption is selected, the user has the option to redeem either to

My Account

Linked Account

Redeem through Cheque

Interest Payment

The instruction for the payment of the interest.

Valid Values:

Renew Interest

Redeem Interest

Renewal or Redemption will be on a periodic basis as per the drop-down options, like monthly, quarterly , yearly basis or on maturity of the fixed deposit.

Where redemption is selected, user has the option to redeem either to

My Account

Linked Account

Redeem through Cheque

Remarks

Transaction Remarks

Enter remarks, if any, for the account opening.

Debit Service Charge Account

Select the account from which charges are to be debited, from the drop-down.