Term Deposit Account Fields

Saving Product Fields

Details Section

Field name (attribute)	Description	Example	Validations (if applicable)
Product	The term deposit product upon which to base the term deposit account. When the product is selected, the rest of the term deposit account form will open and the term deposit product values will populate the form. Term deposit products that are active on the current date will display in the Product list.	Monthly Interest Saving	Required field Select from list
Submitted on	The date the term deposit account application was submitted on. Valid dates include the current date or earlier but cannot precede: the date the client applying for the term deposit account became active. the date the term deposit product became active.	01 June 2014	Required field Select from pop-up calendar
Field officer	The financial institution employee who will be responsible for the term deposit account.		Optional Select from list

Terms Section

Field name (attribute)	Description	Example	Validations (if applicable)
Currency	The currency is set in the term deposit product and cannot be modified on a term deposit account.	Indian rupee	Cannot be changed
Decimal places	The decimal place value is set in the term deposit product and cannot be modified on a term deposit account.	2	Cannot be changed
Interest compounding period	The interest compounding period will be default for the term deposit product but can be changed for a term deposit account.	Monthly	Required field Select from list
Interest posting period	The period at which interest rate is posted or credited to the term deposit account. The interest posting value will be default for the term deposit product but can be changed for a term deposit account.	Monthly	Required field Select from list
Interest calculated using	The method used to calculate interest. The interest calculated using value will be default for the term deposit product but can be changed for a term deposit account.	Average Monthly Balance	Required field Select from list
Days in years	The setting for number of days in a year to use to calculate interest. The days in years value will be default for the term deposit product but can be changed for a term deposit account.	360	Required field Select from list
Deposit amount	Fixed term accounts only. The amount the client will be depositing to the term deposit account. The amount must be greater than or equal the minimum and greater than or equal to the maximum deposit amounts specified in the product definition.	3000.00	Required field
Deposit period	Fixed term accounts only. The length of time the client plans to leave the funds in the term deposit account. The deposit period must be within the deposit period constraints specified in the product definition.	9 months	Required field Numeric and select from list
Lock-in period	Used to indicate the length of time that a term deposit account of this term deposit product type is locked-in and withdrawals are not allowed. The lock-in period values will be default for the term deposit product but can be changed for a term deposit account.	5 Days	Optional field Numeric and select from list

Deposit Requirements (Recurring Deposit Only)

Field name (attribute)	Description	Exampple	Validations (if applicable)
Is Mandatory Deposit	Indicates if deposits are mandatory for term deposit accounts based on this term deposit product. For mandatory accounts: If a deposit is not received as expected on the scheduled deposit day, it is added to the due amount for the next deposit day. That is, the account owner will owe double the amount on the next deposit day. For voluntary accounts: If a deposit is not received as expected on a scheduled depositday, it will not be added to the due amount for next deposit day. The value will be default for the term deposit product but can be changed for a term deposit account.	checked (true)	Optional field Check if true; Uncheck if false
Allow withdrawals	Indicates if withdrawals are permitted for term deposit accounts based on this term deposit product. The value will be default for the term deposit product but can be changed for a term deposit account.	5000	Required if Is Overdraft Allowed is checked
Recurring Deposit Amount	The amount the client commits to deposit on the specified deposit frequency. The amount of the recurring deposit must be within the deposit amount constraints specified in the product definition. This amount is considered “due” on the scheduled deposit day of the account owner. Partial payments are allowed for voluntary accounts.	500	Required Numeric
Deposit Period	The length of time the client plans to maintain the recurring deposit account. The deposit period must be within the deposit period constraints specified in the product definition.	9 months	Required field Numeric and select from list
Deposit Frequency Same as Group/Center meeting	Indicates if the deposit frequency for a recurring term deposit account should be the same as the meeting dates for the group or center the client applying for the account is a member of.	Checked
Deposit Start Date	The date of the first deposit to the recurring term deposit account. Select a date from the calendar pop-up. The date must be greater than or equal the Submitted on date.	12 June 2014	Required field Date format
Deposit frequency	The deposit frequency defines when and how often a deposit is expected. In the example given, a deposit is expected every 1 month, typically on the same date of the month as the deposit start date.	1 Month	Required fields Numeric and select from list

Settings

The information in the Settings section of a term deposit account is defined by the term deposit product definition and cannot be changed for an account. The information displayed includes:

Minimum deposit term, example 3 Months

And thereafter, in Multiples of for example 1 Month

Maximum deposit term, example 36 Months

For Premature Closure:

Apply penal interest (less), example .75 (percent)

On example Whole Amount

Field name (attribute)	Description	Example	Validations (if applicable)
Transfer interest to Linked Savings Account	For fixed term deposit only. The client may chose to transfer interest earned during the term to a saving account they have at the same financial institution. If this option is chosen when interest is earned by the term deposit account, the interest will be paid into the account specified in Link savings. Check Transfer interest to Linked Saving Account to turn on this option.	Checked (True)	May be checked (True) or unchecked (False)
Linked savings	The field is required if Transfer Interest to Linked Saving Account is checked. It specifies the account that interest earned on the term deposit account should be transferred to. The term deposit account and the saving account must be in the same currency.	Standard saving	Select from list

Interest Rate Chart

The interest rate chart for the term deposit product displays on the term deposit account application but cannot be modified.

Charges Section

Field name (attribute)	Description	Example	Validations (if applicable)
Charges	Charges will default from the term deposit product definition. To remove a default charge, click x in the Action column. To add a charge, select a charge from the Charges list and click Add. If more charges apply to the term deposit account, select additional charges and click Add for each.