How to Calculate Interest for a Term Deposit Account

Interest is normally calculated and posted to an account using a batch process that runs on a regular basis defined by your financial institution. You may use the calculate interest transaction to calculate interest due to a term deposit account as of the current date and between runs of the batch process.

is the above information true?

To calculate interest for a term deposit account

Locate the term deposit account by viewing the client that holds the saving account and clicking on the term deposit account under Saving Account Overview.

1. Select Calculate Interest from the action bar. The interest earned from the date the term deposit was activated until the current date will be calculated and the Interest Earned field on the Summary tab will be updated.

Related articles

• Page:Share Accounts

• Page:How to Prepay a Loan Account

• Page:Using collection sheet or other payment types for making payments

• Page:How to Assign a Loan Officer

• Page:How to Add a Charge to a Loan Account