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Constructor for term deposit products including interest rates, maturities, amounts, etc...

Create a new Term Deposit Product

To create a new Term deposit product click +Create button on the upper right-hand corner and fill the following fields:

Details:

  • Name - specify the name of a new term deposit product
  • Code - specify a short unique code for designation this new product. For example, it can contain capital letters of the product
  • Availability - set the availability of the product by checking the boxes you need: Person, Company
  • Currency - select the available currency code from the drop-down list
  • Amount - set minimum and the maximum amounts which are allowed for the term deposit product
  • Interest rate - set minimum and maximum value for interest rate of the term deposit product
  • Maturity - set minimum and maximum maturity in periods for the term deposit product
  • Interest accrual frequency - select the interest accrual frequency from the drop-down list: Daily, Monthly, End of the month, Yearly

Early close fee parameters:

  • Early close fee rate - set minimum and maximum fee for the early closing of the term deposit, as a percentage of the deposit balance
  • Early close fee flat - set flat minimum and maximum fee for the early closing of the term deposit

Accounts: every field is represented by the drop-down list of all accounts entered into the system. Please choose the most suitable accounts for the following transactions:

  • Principal
  • Interest accrual
  • Interest expense
  • Interest write-off
  • Early close fee account

Note that every field is required. Afterwards, click the Save button at the upper right-hand corner to save the new entry or Cancel to discard.

Edit Term Deposit Product

Click on the entry you want to edit to go to the entry details where you will find the Edit button.

Once changes made click the Save to save them or Cancel to discard.

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