Simulate Preclosure of Fixed Deposit Account

Introduction

This screen allows the user to simulate an fixed deposit preclosure. The user is displayed a simulated data about a deposit account if the user closes a particular fixed deposit on any particular date after the system date and before the maturity date.

The appropriate message is displayed if:

  • Selected account doesn’t have inquiry access

  • User enters a date before the system date

  • User enters an invalid date

  • Host is not available or if there is any other issue in contacting host or if there are any other issues like account pending for authorization because of inconsistency in data available at Core

  • Selected account ID is not valid

  • User doesn’t enter any date

  • User tries to simulate for a date which is later than the maturity date

  • User enters a date prior to default low date

  • User enters a date after default high date

  • The account is pending for authorization

  • The account type is not valid

 If any error occurs on specifying the search criteria, the respective error message is displayed.

 Similarly if the required data is not available in Core, or Core is down, the respective error message is displayed.

Navigation

  • Select the Simulate Preclosure of Fixed Deposit Account option in the More Actions drop-down and click OK in the View Deposit Accounts screen.

  • The Simulate Preclosure of Fixed Deposit Account screen is displayed.

What you can do

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

Field

Description

Closure Date

The suggested fixed deposit closure date. Select the date from calendar widget, this is mandatory.

 

Click

To

Continue

To initiate the simulation. The screen with the preclosure details will be displayed as below.

Back

Return to the previous screen.

 

Field

Description

Simulated Preclosure Details

Note:

All fields are display fields.

Deposit Amount

The amount available in the fixed deposit.

Balance Amount

The amount that will continue once the part redemption is done.

Interest Recoverable

If any interest has to be recovered from the deposit, the same will be displayed.

Withdrawn Amount

The actual amount of the part redemption.

Lien Amount

If there is a lien on the deposit, the amount will be displayed.

Tax Deducted at Source Amount

If interest paid has exceeded the non taxable limit, the tax deducted will be displayed.

 

Click

To

Download Details As

The details displayed can be downloaded by the retail user in the required format as given in the drop-down.

Back

Return to the previous screen.