Create Business Product

On Home screen, under Menu, click Retail Deposits. Under Retail Deposits, click Configurations.

Under Configurations, click Retail Deposits Business Product. Under Retail Deposits Business Product, click Create Business Product.

The Create Business Product screen displays.

Figure 1-1 Create Business Product - Basic Details

Description of "Figure 1-1 Create Business Product - Basic Details"

Specify the fields on the Basic Details screen.

For more information on fields, refer to the field description table below.

Table 1-1 Basic Details - Field Description

Field	Description
Business Product	Specify the business product code to be maintained. This indicates the class code or template code. This code is referenced during the deposit creation.
Description	Specify the description for the business product.
Account Type	Specify the account as Deposit. This is the default value.
Account Code	As per your bank’s requirement, you can choose to classify business products into different account codes. The bank can decide the way the business products are to be assigned to different account codes. An account code can consist of a maximum of four characters. The business product or an account code can be part of the customer account mask. If the customer account mask consists of an account code, the value in this field is used as part of deposit account number generation.
Validity	Specify the validity period of the business product by specifying the start date and the end date. End date is optional.

After specifying the fields in the Basic Details screen, click Next.

The Features screen displays.

Figure 1-2 Create Business Product - Features

Description of "Figure 1-2 Create Business Product - Features"

Specify the fields on Features screen.

For more information on fields, refer to the field description table below.

Table 1-2 Features - Field Description

Field	Description
Allow Partial Liquidation	Switch this toggle ON to indicate that partial redemption is allowed. If Allow partial Liquidation is toggle OFF, then partial redemption will not be allowed on deposits under this business product. The default value is OFF.
Allow Partial Liquidation with Amount Block	Switch this toggle ON to indicate that partial liquidation is allowed for the deposits with amount blocks. If the deposit is linked partially then partial liquidation of the deposit will be allowed only if you select this toggle. The default value is OFF.
Allow Top Up Of Deposit	Switch this toggle ON to indicate that you can top-up funds to an existing deposit. The default value is OFF. If this is toggle ON, the below values are displayed. Top Up of Deposit Block Duration After Opening Date Block Duration Before Maturity Date
Top Up of Deposit	User can top-up an existing deposit by adding funds to the deposit account.
Interest Rate	Select the interest to be applied on the top-up deposit, from the drop-down list. The list of values as follow: Current - Select this option to apply the current interest rate of the deposit on the top-up amount. As on Opening Date - Select this option to apply the interest rate based on the slab as on the value date of deposit opening. If top-up is made to a deposit after rollover, the rate as on rollover date will be considered for rate pick up. As on Top Up Value Date - Select this option to apply the interest rate based on the slab as on the value date of the top-up.
Block Duration After Opening Date	User can specify the duration for which the deposit top up has to be blocked after the account opening date. The block duration after Opening date (Days/Months) should not be greater than the maximum tenor at the business product.
Months	Specify the number of months for which the deposit top-up has to be blocked after the account opening date.
Days	Specify the number of days for which the deposit top-up has to be blocked after the account opening date.
Block Duration Before Maturity Date	User can specify the duration for which the deposit top-up has to be blocked before the account maturity date. The top-up can be done any time before the maturity date (i.e. in term) of the deposit if there is no block duration defined. The block duration before maturity date (Days/Months) should not be greater than the max tenor at the business product.
Months	Specify the number of months for which the deposit top-up has to be blocked before the deposit maturity date.
Days	Specify the number of months for which the deposit top-up has to be blocked before the deposit maturity date.

After specifying the fields in the Features screen, click Next.

The Deposits screen displays.

Figure 1-3 Create Business Product - Deposits_Tenor Parameters

Description of "Figure 1-3 Create Business Product - Deposits_Tenor Parameters"

Figure 1-4 Create Business Product - Deposits_Rate Chart Parameters

Description of "Figure 1-4 Create Business Product - Deposits_Rate Chart Parameters"

Figure 1-5 Create Business Product - Deposits_Maturity Instructions

Description of "Figure 1-5 Create Business Product - Deposits_Maturity Instructions"

Figure 1-6 Create Business Product - Deposits_Maturity Holiday Treatment

Description of "Figure 1-6 Create Business Product - Deposits_Maturity Holiday Treatment"

Figure 1-7 Create Business Product - Deposits_Preferences

Description of create-business-product_deposits_preferences.png follows

Description of the illustration create-business-product_deposits_preferences.png

Specify the fields on Tenor Parameters in Deposits screen.

Click Add button in the Applicable Tenor Configuration. The Add Tenor Applicability screen displays.

Figure 1-8 Add Tenor Applicability

Description of "Figure 1-8 Add Tenor Applicability"

For more information on fields, refer to the field description table below.

Table 1-3 Tenor Parameters - Field Description

Field	Description
Tenor Parameters	This section determines the list of applicable tenors for a business product and also the minimum, maximum and default tenor for a business product.
Applicable Tenor Configuration	Click on Add to specify multiple tenors that are applicable for the business product. If Applicable Tenors are defined for a business product then the deposit can be created only with one of the tenors mentioned in the configured list. The deposit creation will fail in case the deposit is booked with any other tenor not part of the maintained list.
Years	Specify the tenor value in Years.
Months	Specify the tenor value in Months.
Days	Specify the tenor value in Days.
Minimum Tenor	Specify the minimum tenor for which deposits should be created under this business product. If the deposit is booked for a tenor that is less than the minimum tenor then the deposit creation fails with an appropriate error message. If applicable tenor is configured, then it needs to be made sure that the minimum tenor is less than the least value of the configured applicable tenors.
Days	Specify the minimum tenor in terms of days.
Months	Specify the minimum tenor in terms of months.
Years	Specify the minimum tenor in terms of years.
Default Tenor	User can define a tenor for the deposits that are opened under the business product. Deposits opened under the business product will automatically acquire this tenor. However, user can change the tenor to suit the requirements of a specific deposit. The default tenor should be within the minimum and maximum range specified. The default tenor is mandatory for a business product. If applicable tenors are also configured, then one of the applicable tenors needs to be captured as a default tenor.
Days	Specify the default tenor in terms of days.
Months	Specify the default tenor in terms of months.
Years	Specify the default tenor in terms of years.
Maximum Tenor	Specify the maximum tenor for which deposits can be created under this business product. If the deposit is booked beyond the maximum tenor then the deposit creation fails with an appropriate error message. If applicable tenor is configured, then it needs to be made sure that the maximum tenor is more than the max value of the configured applicable tenors.
Days	Specify the maximum tenor in terms of days.
Months	Specify the maximum tenor in terms of months.
Years	Specify the maximum tenor in terms of years.

After specify the details in the Add Tenor applicability screen. Click Add or Add Another button to include the tenor applicability details in the Tenor Parameters section in the Deposits screen.

Specify the fields on Rate Chart Parameters in Deposits screen.

For more information on fields, refer to the field description table below.

Table 1-4 Rate Chart Parameters - Field Description

Field	Description
Rate Chart Parameters	This determines if rate chart is applicable for the business product and the premature redemption details for the deposits if rate chart is allowed.
Rate Chart Allowed	Switch this toggle ON to indicate that the system should calculate deposit interest based on the floating rate maintained. If user select this toggle, the system will pick interest rates based on different tenors, amount slab, currency and effective date for a deposit. The default value is OFF.
Rate Chart Tenor	Specify the value by which the tenor maintained should be considered. User can select one of the following values: Days - If user select this, the rate chart tenor will be considered as days for all deposit under this business product. Months - If user select this, the rate chart tenor will be considered as months for all deposit under this business product. The default value is Days.
Interest Rate Based On Cumulative Amount	Switch this toggle ON to indicate that the system should arrive at the interest rate of a new deposit using the cumulative amount of other active deposits, under the same business product, customer, and currency. The default value is OFF.
Interest Rate for Redemption Amount	Select the interest rate to be applied for the redemption amount, from the drop-down list. The list of values are as follow: Continue Existing As on Opening Date As on Redemption Date Special Rate Code As on Rate Revision Events The default value is Continue Existing.
Special Rate Code	Specify the special rate code for the redemption amount.
Interest Rate After Redemption	Select the interest rate to be applied after redemption of deposit, from the drop-down list. The list of values are as follows: Continue Existing As on Opening Date As on Redemption Date As on Rate Revision Events The default value is Continue Existing.

Specify the fields on Maturity Instructions in Deposits screen.

For more information on fields, refer to the field description table below.

Table 1-5 Maturity Instructions - Field Description

Field	Description
Maturity Instructions	This determines the default maturity instructions for accounts opened under the business product.
Auto Rollover	Switch this toggle ON to automatically rollover the deposits on maturity date. The default value is OFF.
Month-End Maturity Deposit	Switch this toggle ON to indicate that the deposit is a month-end maturing deposit (i.e., the deposit matures on the last working day of the month). The default value is OFF.
Re-pick up Business Product Tenor on Rollover	Switch this toggle ON to enable re-pick up of the business product tenor on rollover. During rollover, the system will pick up the default tenor of the business product. The default value is OFF.
Maturity Notice Period	Specify the number of days before which the customer notification is to be sent for deposit maturity.
Close on Maturity	Switch this toggle ON to close the deposit account on maturity date and transfer the amount as per the pay-out details maintained for the deposit. The default value is OFF.
Cascade Month-End Maturity Date	Switch this toggle ON to cascade the month end maturity date of the deposit. If not selected then, the maturity date will fall in line with the account open date. The default value is OFF.
Grace Period For Renewal	Specify the grace period for renewing a deposit. This option is applicable only for deposits whose interest and principal is moved to unclaimed GLs upon maturity. In other words, grace period will not be applicable on the maturity date in case of auto rollover or closure of the deposit.
Grace Days After Rollover	Specfy the number of days after rollover during which the customer can make any modifications or online operations on the deposits without incurring any penalty.

Specify the fields on Maturity Holiday Treatment in Deposits screen.

For more information on fields, refer to the field description table below.

Table 1-6 Maturity Holiday Treatment - Field Description

Field	Description
Holiday Treatment	This determines the holiday treatment if the maturity of the deposit falls on a holiday.
Holiday Calendar	Select the holiday calendar applicable to the business product from the drop-down list. This list displays the following values: Ignore - Select this option to ignore all other holiday parameters for the business product. By default, this option is selected. Branch - Holiday calendar will be based on the branch holiday maintenance of the respective branch. Currency - Holiday calendar will be based on the currency maintenance done at bank level for the respective currency. Both Branch and Currency - Holiday calendar is based on both branch and currency holiday maintenance. The holiday calendar is used to arrive at the maturity date. The holiday calendar defined at the business product is applicable to all deposits opened under the business product. User cannot modify the Holiday Calendar if there are active accounts under the business product. The default value is Ignore.
Holiday Movement	Select the working day to which the holiday should be moved from the adjoining drop-down list. This list displays the following values: No Change - If you select this option, then there is no change in the maturity date. By default, this option is selected. Previous Working Day - In case the computed maturity date is a holiday, then system moves the maturity date to the previous working day for the corresponding Holiday Calendar chosen. Next Working Day - In case the computed maturity date is a holiday, then system moves the maturity date to the next working day for the corresponding Holiday Calendar chosen. Holiday movement is adjusting the next maturity date when the maturity date falls on a holiday, based on the Holiday Calendar chosen. Holiday Movement is not applicable if you select Ignore option for Holiday Calendar. Note: User cannot modify the Holiday Movement if there are active account under the business product. The default value is No Change.
Maturity Date Movement Across Months	Select the maturity date movement across months from the drop-down list: Allowed - The maturity date is moved across months. If the computed maturity date falls on a Holiday, then the maturity date can be moved to the next or previous working day, based on the holiday movement option, even if it falls in a different month. By default, this option is selected. Previous/Next Working Day of the Same Month - After moving the maturity date, if the adjusted maturity date falls in the previous/next month, then the system moves the maturity date forward or backward to the next/previous working day of the same month. No Change in Maturity Date - If the adjusted maturity date falls on next/previous month, then the system ignores the movement and considers the computed maturity date as the maturity date even it falls on a holiday. Maturity date across months is applicable only when the maturity date is adjusted to previous or next working day. The default value is Allowed.
Adhoc Holiday Change	Select the adhoc holiday change from the drop-down list. The list displays the following values: Change Maturity Date and Generate Advice - System updates the maturity date and the rollover maturity date as per the deposit holiday calendar maintenance, generates an advice to the customer. By default, this option is selected. Generate Advice - System generates an advice on deposits having maturity date falling on a holiday. No Action - If this is selected, the maturity date does not change. In this case the system will not generate advices for the deposit. The adhoc holiday change is the change in branch and currency holiday calendar after opening the deposit due to adhoc change in holiday or branch transfer of the deposit. System ignores the value of Adhoc Holiday Change if you select the Ignore option for Holiday Calendar. The default value is Change Maturity Date and Generate Advice.
Applicable Deposit Tenor	Select the deposit tenor, applicable to the deposit for interest rate pick-up, from the drop-down list. This list displays the following values: Original Tenor - If you select this option, then the system considers the tenor which is defaulted from the business product or modified at the account level. By default, this option is selected. Deposit Tenor - If you select this option, then the system considers the tenor based on the adjusted maturity date. The default value is Original Tenor.

Specify the fields on Preferences in Deposits screen.

Click Add button in the Add Preferences. The Add Deposit Amount Currency screen displays.

Figure 1-9 Add Deposit Amount Currency

Description of "Figure 1-9 Add Deposit Amount Currency"

For more information on fields, refer to the field description table below.

Table 1-7 Preferences - Field Description

Field	Description
Currency Code	Select the applicable currency from the drop-down list for which the minimum and maximum opening deposit amount is to be maintained.
Minimum Opening Deposit Amount	Specify the minimum opening deposit amount for the deposit product. If the deposit funding amount is less than minimum opening deposit amount, then the system will reject the deposit creation.
Maximum Opening Deposit Amount	Specify the maximum opening deposit amount for the deposit product. If the deposit funding amount is greater than the maximum opening deposit amount, then system will reject the deposit creation.
Top up Units	Specify the top-up units for the deposit product. The top-ups done on the deposit product should be basis the units if configured. Eg: If top-up unit is USD 500, then top-up can be done for UDS 500, USD 1000, USD 1500 etc.
Redemption Interest Payout General Ledger	Specify the intermediary GL Code to which the redemption proceeds (Principal, interest, penalty, and tax) will be credited when the redemption interest payout option is Principal Payout. The net amount credited or debited from this GL during the redemption will be paid as redemption principal proceeds.
Deposit Funding Options	Specify the option(s) through which the deposit can be funded. When the deposit is opened, a validation ensures that the deposit is funded only through the selected option(s). The available options are General Ledger and Savings Account.

After specify the details in the Add Deposit Amount Currency screen. Click Add or Add Another button to include the deposit amount details in the Preferences section in the Deposits screen.

After specifying the fields in the Deposits screen, click Next.

The Interest screen displays.

Figure 1-10 Create Business Product - Interest

Description of "Figure 1-10 Create Business Product - Interest"

Specify the fields on Interest screen.

Click the Add button in the Add Interest Details. The Add Interest screen displays.

For more information on fields, refer to the field description table below.

Table 1-8 Interest - Field Description

Field	Description
Product Code	Specify the interest product code that should be linked to the account. The adjoining option list displays all valid Interest and Charge (IC) products available in the system. User can select the appropriate one.
Currency	Select the Currency from the drop-down list defined for the interest product.
Rate Change on Interest Liquidation	Switch this toggle ON, then on every interest liquidation new rates are picked up for the interest calculation. However, you cannot toggle this switch once authorized.
Rate Change on Rollover	Switch this toggle ON to re pick up the rate activity on the rollover of deposit. The rate is picked up for fixed and rate chart allowed deposits.
Continue Spread on Rollover	This is defaulted based on the Interest and Charges product. Switch this toggle ON to enable continued variance on rollover. The system will default account variance as current value to the rollover deposit for the next cycle. If you toggle OFF this, then the account variance will not be carried forward to the next rollover cycle.
Open	Switch this toggle ON to make the product applicable. More than one IC product may be applicable for a business product at the same time. The default value is ON.

After specify the details in the Add Interest screen. Click Add or Add Another button to include the interest parameters in the Interest screen.

After specifying the fields in the Interest screen, click Next.

The MIS screen displays.

Figure 1-11 Create Business Product - MIS

Description of "Figure 1-11 Create Business Product - MIS"

Specify the fields on MIS screen.

For more information on fields, refer to the field description table below.

Table 1-9 MIS - Field Description

Field	Description
MIS Group	Select the MIS group applicable for the deposit business product from the selection list. The list is populated based on the MIS configuration maintained in common core.
Description	The system displays the description. This is auto populated.
SECTOR	Specify the sector to be associated.
SECTOR Description	The description of the sector is displayed.

After specifying the fields in the MIS screen, click Next.

The GL Details screen displays.

Figure 1-12 Create Business Product - GL Details

Description of "Figure 1-12 Create Business Product - GL Details"

Specify the fields on GL Details screen.

For more information on fields, refer to the field description table below.

Table 1-10 GL Details - Field Description

Field	Description
Natural GL	The following values are available – Credit Debit

Click the Add icon to add an entry for GL.

The Add GL Lines screen displays.

Figure 1-13 Create Business Product - GL Details_Add GL Lines

Description of "Figure 1-13 Create Business Product - GL Details_Add GL Lines"

Specify the fields on Add GL Lines screen.

For more information on fields, refer to the field description table below.

Table 1-11 Add GL Lines - Field Description

Field	Description
Status	Specify the status. Click the search icon to open the Status window. Select from the list of status associated and click to add the status in the field.
Description	The system displays the status description.
Credit GL	Specify the GL to which the account balance should belong. Click the search icon to open the Credit GL window. Select and click to add the entry.
Debit GL	Specify the GL to which the account balance should belong. Click the search icon to open the Debit GL window. Select and click to add the entry.

After specifying all the details, click Save & Close to complete the steps or click Cancel to exit without saving.