2.4.3 Term Deposit Payout Modification

You can view or modify the payout instructions maintained during the TD account opening using this screen. Also, you can create new payout instruction, if no instructions are maintained for the TD account.

Note:

The fields marked as Required are mandatory.

To view the TD payout modification details:

  1. On the Home screen, from the Retail Deposit Services mega menu, under Term Deposits and Maintenance, click Payout Modification, or specify Payout Modification in the search icon bar and select the screen.

    The Term Deposit Payout Modification screen is displayed.

    Figure 2-36 Term Deposit Payout Modification

    Description of Figure 2-36 follows
    Description of "Figure 2-36 Term Deposit Payout Modification"
  2. On the Term Deposit Payout Modification screen, click the Search icon or specify the account number in the Account Number field.
    The details are displayed.

    Figure 2-37 TD Payout Modification Details

    Description of Figure 2-37 follows
    Description of "Figure 2-37 TD Payout Modification Details"
  3. You can view the payout details of the TD account. For more information on fields, refer to the field description table.

    Table 2-28 View TD Payout Details – Field Description

    Field Description
    Search By Users can search for an account number by using any of the available search criteria.

    The account number is set as the default search option. Users can specify the account number directly in the adjacent field or search for an account number by clicking the Search icon. Users can also search for the specific account number by providing customer ID, account number, or account name.

    Other search options available in the Search by field are Customer ID, SSN, Mobile Number, and Email.

    A specific customer ID can be searched by providing the customer name or customer ID. If SSN, mobile, or email IDs are chosen to find an account number, the respective IDs have to be input entirely in the adjacent field for the system to display the account number. For a given search criteria, multiple account numbers may be linked.

    For example, two or more account numbers can be linked to a single mobile number. In such cases, the system displays all the account number matches and the user can select the relevant account number on which to perform a servicing operation.

    Note:

    The label of the field adjacent to the Search by field changes dynamically. For example, if the Account number is chosen as the search criteria, the label of the adjacent field is displayed as the Account Number. If SSN is chosen as the search criteria, then the adjacent field would display the label as SSN.

    Deposit Details

    Displays the principal balance, the rate of interest, and the tenor of the TD account.

    Maturity Details

    Displays the amount due to the customer on maturity and the maturity date.

    Status

    Displays the status of the TD account. The possible options are:
    • Active
    • Overdue
    • Closed

    Reinvested Interest or Interest Paid

    Displays the amount and currency for the reinvested or paid out interest.

    Note:

    • If the interest if of reinvest type, then the field name is displayed as Reinvested Interest.
    • If the interest if of paid out type, then the field name is displayed as Interest Paid.

    Tax Deducted

    Displays the tax amount deducted till date.

    Term Deposit Payout Instructions

    This section displays the existing payout instructions of the TD account.

    Component

    Displays the component of payout. The possible options are:
    • Principal
    • Interest
    • Principal & Interest
    • Rollover Principal
    • Rollover Interest
    • Rollover Principal & Interest

    Note:

    If auto-rollover is disabled for the product, it displays only Principal, Interest, and Principal & Interest.

    Mode

    Displays the mode of payout. The possible options are:
    • Account
    • Ledger
    Description

    Displays a brief description of the payout.

    Note:

    Based on the payout mode, the description is displayed. The description according to the mode are as follows:
    • Account – Account Number & Account Name
    • Ledger – Ledger Code, Ledger Name
    Percentage

    Displays the percentage of payout.

    Amount

    Displays the TD payout amount.

    Note:

    For Interest component, this field displays Available on Payout text.
    Actions

    Click the View icon, to more details of the payout. For more information, refer View TD Payout Modification.

    Click the Edit icon, to edit the payout details. For more information, refer Modify TD Payout Modification.

    Click the Delete icon, to delete the payout details.

  4. Click Submit.
    The screen is successfully submitted for authorization.