1. Deposit Services User Guide
  2. RD Maintenances
  3. Recurring Deposit Amount Block

8.1 Recurring Deposit Amount Block

You can block the RD amount. A Recurring Deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions, and so on.

A Recurring deposit can be blocked for certain amount due to different reasons like collateral to an overdraft, funds provider account during sweep transactions , and so on. Also, the Bank might receive request from any authorized external agencies to block the RD amount.

To create amount block:

Note:

The fields marked as Required are mandatory.
  1. On Homepage, from the Retail Deposit Services mega menu, under Term Deposits and Maintenance, click Create Amount Block, or specify Create Amount Block in the search icon bar and select the screen.
    The Create Recurring Deposit Amount Block screen is displayed.

    Figure 8-1 Create Recurring Deposit Amount Block

    Description of Figure 8-1 follows
    Description of "Figure 8-1 Create Recurring Deposit Amount Block"
  2. On the Create Recurring Deposit Amount Block screen, click the Search icon or specify the account number in the Account Number field, and press Enter or Tab.
    The details for the Create Recurring Deposit Amount Block is displayed.

    Figure 8-2 Create Recurring Deposit Amount Block Details

    Description of Figure 8-2 follows
    Description of "Figure 8-2 Create Recurring Deposit Amount Block Details"
  3. On Recurring Deposit Amount Block screen, specify the fields. For more information on fields, refer to the field description table.

    Table 8-1 Create Recurring Deposit Amount Block – Field Description

    Field Description

    Account Number

    		 Click the Search icon and select the account number or specify the account number for creating amount block on RD account.

    Note:

    • The account holder's name is displayed adjacent to the field.
    • The customer information is displayed at the right of the screen.

    Amount To Be Blocked

    		 Specify the amount you want to block for the Recurring Deposit (RD). Note that the currency for the RD will be displayed by default.

    Block Reason

    		 Select the reason for block from the drop-down list.
    Effective Date Specify or select the effective date for the block.

    Note:

    This date cannot be less than current process date.
    Expiry Date Specify or select the expiry date for the block.

    Note:

    This date cannot be less than current process date and effective date.
    Narrative Specify the narration, if any for the block.
  4. Click Submit.
    The screen is successfully submitted for authorization.

Parent topic: RD Maintenances