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

Friday

HOW TO CLOSE ACCOUNT IN FINACLE

http://www.finaclecommands.com/

For Closing an Account, following steps are to be taken:

Step 1:
  • Inquire following contents from ACCBAL:

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  • Go to the menu option ACCBAL and enter. The following screen will appear:
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  • Ensure that Effective Available Balance in the account.
  • In the above screen, no balances in any components should be there e.g. Funds in Clearing, Float Balance, Any type of TOD limit, Lien Amount and System Reserved Amount etc.

How to Open Cash Credit Account in Finacle


INTRODUCTION TO CASH CREDIT LOAN.


Cash credit is a short-term source of finance. Under cash credit, the bank offers its customer to take a loan up to a certain limit. Cash credit is also known as bank overdraft.

FEATURES OF CASH CREDIT:

  • This loan is given to meet the working capital requirements of a company.
  • It is given against a collateral security.

Now, Let us Understand.

HOW TO OPEN CASH CREDIT ACCOUNT IN FINACLE:

http://finaclecommands.com/
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 Sub-head Code Press F4. Then the following screen will appear.
  • For every account opening of Cash Credit the General, Scheme, Limit Details and MIS Details are mandatory.

Sunday

How to Open a Loan Account in Finacle

Loans Account Opening 

So,Lets understand,

    What is Loan?

A loan is the act of giving money, property or other material goods to another party in exchange for future repayment of the principal amount along with interest or other finance charges. A loan may be for a specific, one-time amount or can be available as an open-ended line of credit up to a specified limit or ceiling amount.

            In Banks for Disbursement of Loan a Loan account in opened in Finacle.

In Finacle for Opening a loan account there are different details which a person had to fill for opening Loan Accounts.
  • G-DETAIL  OR   GENERAL DETAILS
  • S-DETAIL  OR   SCHEME DETAILS
  • I-DETAIL    OR   INTEREST DETAILS
  • H-DETAIL  OR   LIMIT/SANCTION DETAILS
  • V-DETAIL  OR    MIS CODE DETAILS
  • E-DETAIL  OR    REPAYMENT DETAILS
  • 5-DETAIL  OR    DOCUMENT DETAILS
  • 6-DETAIL   OR    DSA DETAILS