This topic describes the IRA certificate of deposit product preferences details.

1. Click Next in Business Product Host Mapping screen to proceed with next data segment, after successfully capturing the data.
   The Business Product Preference - IRA Certificate of Deposit screen displays.

   Figure 1-11 Business Product Preference-IRA Certificate of Deposit

   
   

   
   Description of "Figure 1-11 Business Product Preference-IRA Certificate of Deposit"

   
   
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 1-11 Business Product Preference – IRA Certificate of Deposit Product- Individual

   Field Name	Description
   Common Configuration	This section provides the details of 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. The system enables the selection of 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.
   Financial Details Validity Period	Specify the validity period for financial details of the applicant. Select the period from the first drop-down box. The available options are: Days Month Year Select the numeric period from the second drop-down box.
   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 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 to set simple process of account opening for this product. To submit the account opening application process, combine the Initiation and Application Entry stages.
   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.
   Configuration for IRA Certificate of Deposits	This section provides configuration details for the IRA Certificate of deposit.
   Funding and Payout Modes	This section provides the preference details of funding and payout modes.
   Zero Balance Deposit	Switch to indicates that the account with zero balance deposit. When this toggle is turned OFF, a regular certificate of deposit account and a zero balance certificate of deposit account are the same.
   Allowed Initial Funding Modes	Select the modes which are allowed for initial funding. The available options are: Fund Later Account Transfer GL Account The drop-down values will be configured in look up maintenance. For zero balance certificate of deposit account, this field displays Fund Later by default. If Zero Balance Deposit is selected as No in the Business Product Host Mapping screen, Fund Later will not be displayed.
   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
   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 IRA certificate of deposit product.
   Banking Preferences	This section provides banking details about banking preferences.
   Banking Channels	Switch to to allow the banking channel service for the account.
   Rollover Preferences	This section provides banking details about rollover preferences.
   Auto Rollover	Switch to to allow the auto rollover service.
   Debit Decision Service Flag	Switch to to allow the debit decision service.
   Action Tab	Click Cancel to cancel the added record. Click Back to view the previous added record. Click Save and Close to save and close the added record. Click Next to move to the next stage.

3. Click Next to proceed with next data segment.