1.1.1.3.3 Term Deposit Product Preferences

This topic describes the term deposit product preferences details.

The Term Deposit Product Preference screen appears when the user selects the Product Category as Individual to configure loan preferences.

To add Term Deposit preferences:

  1. Click Next in Business Product Host Mapping screen to proceed with next data segment, after successfully capturing the data.
    The Business Product Preference – Term Deposit Product screen appears.

    Figure 1-8 Business Product Preference – Term Deposit Product


    Description of Figure 1-8 follows
    Description of "Figure 1-8 Business Product Preference – Term Deposit Product"

  2. Specify the details in the relevant data fields.

    Note:

    The fields which are marked with Required are mandatory.
    For more information on fields, refer to the field description table.

    Table 1-8 Business Product Preference – Term Deposit Product- Individual

    Field Name Description
    Common Configuration In this section, the user can capture the common configurations for the business product.
    Residential Status Allowed

    Select the option for which the business product is applicable for.

    The available options are:

    • Resident
    • Non-Resident
    Customer Status Allowed

    Select the option for which the business product is applicable for.

    The available options are:

    • Major
    • Minor
    Currency Allowed Select the currency or currencies that are allowed for the business product. System allows to select multiple currencies, if applicable.
    Minimum Age

    Specify the minimum age of the applicant who are eligible to open the account for the business product being created. Select the period from the drop-down box.

    The available options are:

    • Days
    • Month
    • Year
    Maximum Age

    Specify the maximum age of the applicant who are eligible to open the account for the business product being created. Select the period from the drop-down box.

    The available options are:

    • Days
    • Month
    • Year
    Inactive Application Expiry Period

    Specify the period after which the application must be marked as Expired.

    Select the period from the drop-down box.

    The available options are:

    • Days
    • Month
    • Year

    Once the application has expired, no further lifecycle activity can happen for that application.
    Branch

    Select one of the following options:

    • Allowed – Select it to indicate and specify the branches where the account under the specified Business Product can be opened.
    • Disallowed – Select it to indicate and specify the branches where the account under the specified Business Product is not allowed to be opened.
    Capture Financial Details Switch to Toggle ON to capture financial details for this business product.
    Allowed Applicant Roles Specify the applicant roles that are allowed to apply this product.
    The available roles are as below:
    • Primary
    • Joint
    • Guarantor
    • Custodian
    • Guardian
    • Cosigner

    The option in this list appears for selection based on the configuration.

    This selected roles gets reflected in the Applicants data segment while capturing an applicant information in an application.

    Customer Category

    Select one of the following options:

    • Allowed – Select to indicate whether the specified categories are allowed to open an account for selected product.
    • Disallowed – Select to indicate whether the specified categories are not allowed to open an account for selected product.

    The system allows to select Disallowed and keep it blank so that the Business Product is allowed for all the branches.

    Early KYC Switch to Toggle ON to enable the early KYC feature to speedup KYC process of an applicant.

    If this option is selected, then the KYC call is trigger to Oracle Banking Party Services once the applicant data is captured in the application.
    Simplified Application Switch to Toggle ON to set simple process of account opening for this product.

    In this process, the Initiation and the Application Entry stages are combined for submitting the account opening application.

    Interest Accumulation Select the method of interest accumulation from the drop down list.
    The available options are:
    • Cumulative: If this option is selected then the Yes option is defaulted for interest accumulation in the Cumulative field of the Account Details data segment.
    • Non Cumulative: If this option is selected then the No option is defaulted for interest accumulation in the Cumulative field of the Account Details data segment.
    • Both: This option gives the flexibility to select the option in the Account Details data segment.
    Bundles Allowed Select the allowed bundles from the drop-down list.
    Configuration for Term Deposit Products In this section, the user can capture the configurations for the term deposit.
    Funding and Payout Modes In this section, the user can specify the preference details of funding and payout modes.
    Allowed Initial Funding Modes Select the modes which are allowed for initial funding.

    The available options are:

    • Cash
    • GL Account
    • Account Transfer
    • Other Bank Cheque

    The drop-down values will be configured in look up maintenance.
    Allowed Payout Modes (for Interest and Maturity) Select the modes which are allowed for fund payout after maturity.
    The available options are:
    • Transfer to Account
    • GL Account
    • Demand Draft
    Allowed Interest Payout Frequency Select the frequencies which are allowed for interest payout.
    The available options are:
    • Weekly
    • Monthly
    • Quarterly
    • Half Yearly
    • Yearly
    Funding Threshold Preferences Specify the funding threshold preferences for term deposit product.
    Term Deposit Currencies Displays the currency based on the Currency Allowed configured in the Common Configuration tab above.
    Minimum Term Tenure Basis

    Select the minimum term tenure. Available options are:

    • Days
    • Month
    • Year
    Minimum Term Specify the minimum tenure of the term deposit for the selected currency.
    Maximum Term Tenure Basis

    Select the maximum term tenure. Available options are:

    • Days
    • Month
    • Year
    Maximum Term Displays the maximum tenure of the term deposit for the selected currency.
    Minimum Amount Displays the minimum amount of the term deposit for selected currency.
    Maximum Amount Displays the maximum amount of the term deposit for the selected currency.
    Banking Channels Switch to Toggle ON to allow multiple banking channels for the account.
    Channels Allowed

    Select the channels that are allowed to the account.

    The available options are:

    • KISOK Banking
    • Direct Banking
    • Phone Banking

    This field appears if the Banking Channel toggle is turned ON.

    Rollover Preferences This section captures the rollover preference details.
    Auto Rollover Switch to Toggle ON to allow the auto rollover for the account.
    Debit Decision Service Flag This section captures the debit decision details.
    Debit Decision Service Flag Switch to Toggle ON to allow the debit decision service.

    If the Product Category is selected as Small and Medium Business:

    Figure 1-9 Business Product Preference – Term Deposit Product (SMB)


    Description of Figure 1-9 follows
    Description of "Figure 1-9 Business Product Preference – Term Deposit Product (SMB)"

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

    Table 1-9 Business Product Details – Field Description

    Field Description
    Common Configuration This section captures the common configuration details for the business product.
    Business Demography

    Select the option for which the business product is applicable for.

    The available options are:

    • Domestic
    • Overseas
    Currency Allowed Select the currency or currencies that are allowed for the business product. System allows to select multiple currencies, if applicable.
    Inactive Application Expiry Period

    Specify the period after which the application must be marked as Expired.

    Select the period from the drop-down box.

    The available options are:

    • Days
    • Month
    • Year

    Once the application has expired, no further lifecycle activity can happen for that application.
    Branch

    Select one of the following options:

    • Allowed – Select it to indicate and specify the branches where the account under the specified Business Product is allowed to be opened.
    • Disallowed – Select it to indicate and specify the branches where the account under the specified Business Product is not allowed to be opened.
    Allowed Applicant Roles Specify the applicant roles that are allowed to apply this product.
    Customer Category

    Select one of the following options:

    • Allowed – Select to indicate whether the specified categories are allowed to open an account for selected product.
    • Disallowed – Select to indicate whether the specified categories are not allowed to open an account for selected product.

    The system allows to select Disallowed and keep it blank so that the Business Product is allowed for all the branches.

    Configuration for Term Deposit Products Specify the configurations for the term deposit.
    Funding Threshold Preferences Specify the funding threshold preferences for term deposit product.
    Term Deposit Currencies Displays the currency based on the Currency Allowed configured in the Common Configuration tab above.
    Minimum Term Tenure Basis

    Select the minimum term tenure.

    The available options are:

    • Days
    • Month
    • Year
    Minimum Term Specify the minimum tenure of the term deposit for the selected currency.
    Maximum Term Tenure Basis

    Select the maximum term tenure.

    The available options are:

    • Days
    • Month
    • Year
    Maximum Term Displays the maximum tenure of the term deposit for the selected currency.
    Minimum Amount Displays the minimum amount of the term deposit for selected currency.
    Maximum Amount Displays the maximum amount of the term deposit for the selected currency.
    Banking Channels Switch to Toggle ON to allow multiple banking channels for the account.
    Channels Allowed

    Select the channels that are allowed to the account.

    The available options are:

    • KISOK Banking
    • Direct Banking
    • Phone Banking

    This field appears if the Banking Channel toggle is turned ON..

    Rollover Preferences This section capture the details of rollover preferences.
    Auto Rollover Switch to Toggle ON to allow auto rollover for the account.
    Common Configuration Specify the common configurations for the business product.
  3. Click Next to proceed with next data segment.

Parent topic: Business Product Preferences