This topic describes the functionality, which enables customers to apply for new term deposits.

All the term deposit offerings of the bank are available for selection on this page. The customer can select any product offer in order to apply for a term deposit of choice.

While applying for a term deposit, the customer is required to identify the amount for which the deposit is to be opened and the tenure i.e. the term of the deposit. Additionally, the customer is also required to define maturity instructions and also to select the current or savings account from which funds are to be debited in order to fund the deposit.

To open a new term deposit:

1. Perform anyone of the following navigation to access the New Term Deposit screen.
   • From the Dashboard, click Toggle menu, click Menu, then click Accounts, and then click Term Deposits . Under Term Deposits , click New Term Deposit.
   • From the Search bar, type Term Deposits – New Term Deposit and press Enter.
   • From the Dashboard, click Toggle menu, click Menu, then click Accounts, and then click Term Deposits . Under Term Deposits , click Overview, then click New Term Depositof Quick Links widget.
   • Access through the kebab menu of transactions available under the Term Deposits module.

   The New Term Deposit screen appears.

   Figure 4-1 New Term Deposit

   
   

   
   Description of "Figure 4-1 New Term Deposit"

   
   

   Figure 4-2 Look up - Bank Code

   
   

   
   Description of "Figure 4-2 Look up - Bank Code"

   
   

   Table 4-1 Field Description

   Field Name	Description
   Holding Details
   Primary Account Holder	Select the corporate name from the list.
   Deposit Details
   Source Account	The customer is required to select the current or savings account to be debited with the deposit amount. All the active current and savings accounts of the customer are displayed along with nicknames, if defined.
   Balance	On selection of a current or savings account in the Source Account field, the current balance of the specific account is displayed in this field.
   Term Deposit Product	All the term deposit products available for application will be listed down.
   Currency	Currency of the deposit. If the deposit product supports only a single currency this field is displayed as a label (instead of a list for selection).
   Deposit Amount	The customer is required to define the currency and amount in which the deposit is to be opened.
   Current Exchange Rate	Displays the current exchange rate. Note: This is displayed only for cross currency deposits.
   Current Exchange Amount	Displays the current exchange amount.
   Amount	The customer is required to specify the amount for which the deposit is to be opened.
   Amount Range	The minimum and maximum amounts for which a deposit can be opened are displayed against the amount field once the customer selects a particular deposit product in the Select Product field.
   Deposit Tenure	The customer can specify the tenure of the deposit in terms of a period i.e. years/ months/ days or by selecting a specific date on which the deposit should mature. The options are: Tenure Date
   Years	The customer can identify the deposit tenure in years. This field is enabled if the customer selects the Tenure option in the Deposit Tenure field.
   Months	The customer can identify the deposit tenure in months. This field is displayed if the customer selects the Tenure option in the Deposit Tenure field.
   Days	The customer can identify the deposit tenure in days. This field is displayed if the customer selects the Tenure option from the Deposit Tenure field.
   Date	The customer can define the deposit tenure by selecting a date on which the deposit should mature. This field is displayed if the customer selects the Date option from the Deposit Tenure field.
   Deposit Period Range	The minimum and maximum period within which the deposit account can be opened is displayed against the deposit tenure field once the customer selects a deposit product in the Select Product field.
   Maturity Details
   Maturity Instruction	Maturity instructions to be set by the customer for the deposit account. The options available are dependent on the deposit product selected. The options can be: Close on maturity (No Rollover) Renew Profit And Principal Renew Principal and Pay Out the Profit Renew Special Amount and Pay Out the remaining amount
   Rollover Amount	The amount to be rolled over. This field is displayed if the customer selects Renew Special Amount and Payout the Remaining Amount option from the Maturity Instruction list.
   Pay To	This field is displayed if the customer has selected any maturity instruction that involves any part of the deposit amount to be paid out at the time of maturity. The customer is required to select the mode through which the amount to be paid out is transferred. The options are: Own accounts Internal Account Domestic Bank Account International Bank Account This field is not displayed if the customer has selected Renew Principal and Profitoption from the Maturity Instruction list.
   Own Account	This section is displayed if the customer has selected the option Own Account in the Pay To field or in the Pay Principal To or Pay Profit To fields.
   Transfer Account	The customer can select a current or savings account to which the funds will be transferred when the deposit matures. All the customer’s current and savings accounts held with the bank will be listed down and available for selection.
   Internal Bank Account	This section is displayed if the customer has selected the option Internal Bank Account in the Pay To field or in the Pay Principal To or Pay Profit To fields.
   Account Number	The customer can identify a current or savings account of the bank to which the funds are to be transferred once the deposit matures.
   Confirm Account Number	The account number selected in the Account Number field must be entered again for confirmation.
   Domestic Bank Account	This section is displayed if the customer has selected the option Domestic Bank Account in the Pay To field or in the Pay Principal To or Pay Profit To fields.
   Account Number	The customer can identify a current or savings account to which the funds are to be transferred once the deposit matures.
   Account Name	Name of the account holder who will be the beneficiary to whom funds will be transferred once the deposit matures.
   Bank Code	The customer is required to identify the bank code in which the beneficiary account is held.
   Look Up Bank Code	Search option to look for bank code of the destination account.
   The following fields and values will be displayed once the customer has specified a bank code.
   Bank Name	Name of the beneficiary bank.
   Bank Address	Address of the beneficiary bank.
   City	City of the beneficiary bank.
   International Bank Account	This section is displayed if the customer has selected the option International Bank Account in the Pay To field.
   Account Number	The customer can identify a current or savings account to which the funds are to be transferred once the deposit is redeemed.
   SWIFT Code	The unique code used to identify the bank where the international account is held.
   Look Up SWIFT Code	Search option to look for the SWIFT code of the bank of the destination account.
   Beneficiary Name	Name of the account holder who will be the beneficiary of the funds when the deposit is redeemed.
   Correspondence Charges	Correspondence charges of the redemption. The charges are borne by: Beneficiary (BEN) Remitter (REM) Sharing

2. From the Source Account list, select the current or savings account to be debited in order to open the term deposit.
3. From the Term Deposit Product list, select the term deposit product that you want to apply for.
4. From the Currency list, select the currency in which you want the term deposit to be held.
5. In the Deposit Amount field, enter the deposit amount.
6. Click on the Calculate Foreign Exchange link to calculate deposit amount w.r.t. foreign currency.
7. Select the desired option against the Deposit Tenure field.
   1. If you select the Tenure option:
      1. In the Years, Months and Days field, enter the appropriate values.
   2. If you option the Date option:
      1. From the Date list, select the appropriate date.
8. From the Holding Pattern field, select whether the deposit being opened is to have a single holding pattern or a joint holding pattern.
9. From the Pay To list, select an appropriate mode through which the amount to be paid out is transferred at the time of maturity.
   Perform one of the following actions:

   • If you have selected the Own Account option;
     1. From the Account Number list, select a current or savings account which is to be credited with the specific amount at the time of deposit maturity.
   • If you have selected the Internal Account option;
     1. In the Account Number field, enter the account number which is to be credited with the specific amount at the time of deposit maturity.
     2. In the Confirm Account Number field, re-enter the account number as entered in the Account Number field.
   • If you have selected the Domestic Bank Account option;
     1. In the Account Number field, enter the account number which is to be credited with the specific amount at the time of deposit maturity.
     2. In the Account Name field, enter the name of the account holder who will be the beneficiary to whom funds will be transferred once the deposit matures.
     3. In the Bank Code field, enter the bank code in which the beneficiary account is held or select it from the look up.
     4. Click Submit to verify and fetch bank details based on Bank Code (BIC).
   • If you have selected the International Bank Account option;
     1. In the Account Number field, enter the account number of the beneficiary.
     2. Perform one of the following actions:
        • In the SWIFT Code field, enter the SWIFT code of the bank where the beneficiary account is held, and click Verify, to verify the code.
        • Use the Look Up SWIFT Code link to find the SWIFT code.
     3. In the Beneficiary Name field, enter the name of the beneficiary.
     4. From the Correspondence Charges list, select who will be bearing the correspondence charges.
10. Perform one of the following actions:
    • Click Submit.

      The Deposit Details, Maturity Detailsand Nomination Details appears.

    • Click Cancel to cancel the transaction.
11. The Review screen appears.
    Perform one of the following actions:

    • Verify the details and click Confirm.
    • Click Back to navigate back to the previous screen.
    • Click Cancel to cancel the transaction.
12. The confirm screen is displayed with a success message along with the reference number.
13. Perform one of the following actions:
    • Click Home to go to the Dashboard screen.
    • Click Go To Account Details to view the deposit details page.