Skip to Content
author's profile photo Former Member
Former Member

Premature withdrawal of Fixed Deposit


We have a fixed deposit (term deposit) which was initially taken for 6 months duration @ 10%

Now at the end of 4 months, we would like to do a premature withdrawal of fixed deposit. As per the revised period, we are required to change the interest rate from 10% to 7% for the duration of 4 months.

-- System does not allow changing the interest rate from 10% to 4%

-- Using other flows will not serve the purpose as the scenario will require payment of additional interest received from bank

Kindly suggest how should we cater to the above scenario. Any suggestion in this regard will be sincerely appreciated.

Warm regards,

Akhil Poddar

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

2 Answers

  • Posted on Jan 05, 2015 at 08:36 AM

    Hi Akhil,

    I'm not sure if reversal should be a viable option for you since the Posting Period for the Principal flow would probably be closed by now.

    One of the acceptable practices is to customize a Penal Interest/Bank Charge Flow in Other flows and post it.

    So ultimately when the payment is being cleared, the 3 flows that'll have to be cleared are Original Interest, Penal Interest/Bank Charge and Bank Payment Entry.



    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 05, 2015 at 07:09 AM

    Hi Akhil

    Please reverse the transaction by follwoing steps

    FTR_EDIT reverse option

    TPM10 for the same transaction

    after doing above two activities go in FTR_edit and change the interest rate and do the normal cycle


    Bajaj Pankaj

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.