THIS BLOG IS BASED ON COMPLETE KNOWLEDGE ABOUT FINACLE COMMANDS,TIPS AND TRICKS.

Monday

How to Open a Term or Fixed Deposit Account in Finacle.

What is a 'Term Deposit'


A term deposit is a deposit held at a financial institution that has a fixed term. These are generally short-term with maturities ranging anywhere from a month to a few years.
For example, FDR, CCR & CDR etc. 

Now,
How to Open a Term Deposit Account in Finacle.

So Let,s get Started:




For Every Type of Account Opening
              Menu Option
                      OAAC





  •  Go to Menu option and enter option OAAC. The following screen will appear:

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  • Enter Customer ID & Press F11 for confirming Customer’s Name
  • Enter appropriate Scheme Code & GL Subhead Code Press F4.  Then following screen will appear. For every account opening of Term Deposit the General, Scheme          and Flow Details are mandatory
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  • Function: O (Open) and Press F4. Then following screen will appear:
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  • The above 1st Screen of General Details will appear then enter the details like mode of  operation, location code etc. Then Press F6 for next screen.

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  • The above 2nd Screen of General Details will appear then enter the details like             Interest Credit Account No. The Deposit Receipt field is by default in case of          Term Deposit. Press F6 for next screen.

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  • The above 3rd Screen of General Details enter the TDS Operative Account if applicable.  Press F6 again. Then you will come on 1st Screen of General Details.  Now Press F4 for accepting General Details.  In Enter Option input ‘S’ for filling Scheme Details and Press F4.   Then following Screen will appear:
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  • Enter Deposit Amount. Then enter Period of Deposit- 1st Field for Months and 2nd for Days. Fill appropriately.                               In Value Date the current date is displayed by default, but in case of back-dated effect you may input effective date.                                                     Enter Repayment Account no. If given by customer.

IN CASE OF NOMINEE

  • If customer have appointed nominee at the time of account opening, so   you have to make the Nomination Flag ‘Y’ in the Scheme Details and   fill the details of nomination from the option ‘N’.  Press F6 for next screen. Then following screen will appear:   
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  •  Enter Auto Closure –‘N’ (No) or ‘Y’ (Yes), as applicable and another concerned  field like Auto Renewal / Max. Auto Renewal etc.  Press F4 for accepting Scheme Details. In Enter Option input ‘F’ for filling Flow Details and Press F4.       Then following Screen will  appear:
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  • Press CTRL+E to explode the flow 
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  • Press F4 twice for accepting Flow details.              After pressing F10 the account number will be generated by system  If you have entered Y in the field “Availing Nomination facility” then go to option ‘N’.  The following screen will appear:
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  • Input details and Press F4 for accepting Nomination Details. In case of Joint Account you have to add Joint Account Holders from the option ‘A’ i.e. Additional Party Details.   
  • The Customer IDs are necessary for all the Joint Account Holders. If there are Joint Account Holders -                                      Go to option ‘A’ and Press F4.  Then following screen will appear:
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  • In the option ‘A’ Additional Party Details the            details of the main a/c holder will appear, for adding joint a/c holders -  Press DOWN ARROW KEY.
  • Press DOWN ARROW keys to add more joint a/c holders and continue as explained above.
  • Then Press F4 for accepting Additional Party Details
  • Note down the system generated account number for further verification
  • If you have chosen any Flexi Fixed Deposit (FFD) Scheme, so you have to fill one more
  • screen i.e. FFD Link Details - Go to option ‘B’ and Press F4.
  • Enter Operative Account No. In which Auto-Sweep of Fund need to be transferred.
  • Sweep-Out In Steps of: Enter the required amount.
  • Press F4 for accepting FFD Details
  • Other than General and Scheme Details for every additional detail you have to accept
  • those details with F4 and then Press F10 for final commit.

For Verification of Account Opening of Term Deposit
      Menu Option
                   OAACAU

Function: V (Verify)

  • Input Generated A/c No. in Temporary A/c No. Field and Press F4
  • For visiting all screens of General Details Press F11 continuously
  • After coming on 1st Screen Press F4 for accepting General Details
  • Enter option ‘S’ and press F4 for verifying Scheme Details
  • Verify details and Press F4.
  • Enter option ‘F’ and press F4 twice for verifying Flow Details
  • If the nomination has been given then - enter option ‘N’ and press F4.
  • Verify the details and Press F4.
  • If account is Joint - Enter option ‘A’ and Press F4.
  • Verify the details and press F4.
  • If account is FFD Type - Enter option ‘B’ and Press F4.
  • Verify the details and press F4.
  • Press F10 to commit. The account number will be displayed.
  • The account stands verified.
   THANKS FOR READING

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