User may change his mind and may want to change the maturity instruction at any point. Doing so would have been more tiresome if the user was asked to visit the branch. Also, changing the maturity instruction may result to change in payout instruction.
Using this option, user can change the maturity instruction at any point in time. With simplified approach, customer can change and set the new maturity instruction as the need may be.
Users can use any of the below maturity instruction;
Along with maturity instruction, customer can even update the payout instruction. Customer even has option to settle maturity amount (or any maturity value – principal, interest or any special amount) into the desired account. It can be customer’s own account, any internal account or any domestic account.
How to reach here:
Dashboard > Accounts > Term Deposits >Edit Maturity Instruction
Field Name |
Description |
|
---|---|---|
Select Account |
Account to be debited in order to open the term deposit. |
|
Maturity Instruction |
Maturity instructions to be set by the user for the selected deposit account. The options can be:
|
|
Roll over Amount |
Special amount be rolled over. This field appears if you select Renew Special Amount and Pay Out the Remaining Amount option from the Maturity Instruction list. |
|
Pay To |
Account transfer options. The options are:
This field does not appear, if you select Renew Principal and Interest option from the Maturity Instructions list. |
|
Own Account This section appears for Own Account. |
||
Transfer Account |
Account number to which the funds are to be transferred. |
|
Beneficiary Name |
BeneficiaryA person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. name of the term deposit. |
|
Bank Name |
Name of the beneficiary bank. |
|
Bank Address |
Address of the beneficiary bank. |
|
City |
City of the beneficiary bank. |
|
Internal Bank Account This section appears for Internal Account. |
||
Account Number |
Account number to which the funds are to be transferred. |
|
Branch |
The list of branches of the home bank for selection. |
|
Branch Address |
Address of the selected branch. |
|
Domestic Bank Account This section appears for Domestic Bank Account. |
||
Account Number |
Account number to which the funds are to be transferred. |
|
Account Name |
Name of the account to which funds is to be transferred. |
|
Bank Code |
Bank code of the destination account. |
|
Bank Name |
Name of the beneficiary bank. |
|
Bank Address |
Address of the beneficiary bank. |
|
City |
City of the beneficiary bank. |
To edit the maturity details:
FAQs
What happens to my term deposit at maturity?
What amendments can be done on a term deposit once it is opened?