Term Deposit Related FAQs

Term Deposit Related FAQs

 1.    FD has matured but it is not getting auto-renewed.

The Reasons could be

·   Check for un-posted system auto-renewal entries in entered-status-use FTI and give the term deposit account,  if there are no unposted trans proceed with the following

·     Interest run not upto date – Check in ACM – Sub option ? – Interest Details inquiry to know the last int posted date and if this is less than the maturity date run ACINT for this TD account only and ensure that the account balance is equal to Principal amt + interest – TDS amt(if any)

·     In ACM - Check Auto-renewal parameters are correct or not.  Auto-renewal flag should be “U”-Unlimited/”L”-Limited depending on customer instruction.

·     Use TDBATCH option – 1 – Automatic renewal / TDREN option and input this account number to do renewal

·         Check the background reports using PR option for any failure reports

The above solution is for a single account, if number of accounts are more,  then the problem may be reported to helpdesk.

2.    How to reverse the TDS which is deducted wrongly?

• Use RFTDS option to reverse the TDS deducted.

 3.    How to recover the TDS Shortfall from the operative account of the customer?

• Use ACM option and from sub option 0 – General Details modify the TDS Operative account and then use the RECSHF option to recover the operative account.  The Shortfall account should be entered as the designated office

account which was debited for the shortfall amount and give the account no. from
and account no. to field as the Term Deposit account.

4.    How to see what is the interest paid and tax deducted for a term deposit account?

• Use ACM option – Sub option 2 – Interest and Tax details to inquire the interest paid and tax deducted (here the interest amt shown will be inclusive of tds)

 5.  What option can be used to print interest certificate and tax deducted summary for a customer-id?

• Use INTCERT to print interest certificate and TDSIP Option 5 – TDS Summary to print TDS Summary and TDSREP to print TDS Report for given Customer-Id.

 6.    A customer has 2 customer-Ids(X and Y) and both belong to the same customer(or the first name is same for both the cust-Ids) and for TDS purpose both the customer-Ids are to be linked(i.e. be treated as one for TDS deduction)?

• Use CUMM option and give cust-id : Y as the TDS Cust-Id in the primary cust-id-X.

 7.    Sweep-in and Sweep-out is not happening, where to check?

• Check the following important parameters ACM – 4 – FFD Parameters
• Automatic Sweep – Should be Y for sweep to occur
• Next sweep-out date - Change this date to today’s date, if the sweep is not happening and you want the sweep to happen in end-of-day process.
• Link to Oper A/c. – Y
• Sweep-in Balance in S-Scheme Details screen should be the min. balance to be maintained for accounts in this scheme.

 8.    TD Receipt printing system is not showing any entry for a particular account?

·         ConfIrm that you have not printed the receipt before for that account.

·         Check the ledger balance for that account, It should be equal to the deposit amount.