Normal / Death closure of TD product in DOP Finacle

Normal / Death Closure of TD Accounts

Death Closure of TD

• During the death closure of a TD account, the User has to choose the previous completed year of TD tenure, as the closure value date in the menu 

HCAACTD - Account Closure - Deposit Accounts

• E.g. TD account was opened on 5-3-2010 for 5 years. The customer dies and the legal heir of customer asks for closure on 25-10-2013.

1. Since TD has run for 3 years, 7 months and 20 days, during closure the user has to choose the completed year of the tenure as on date of death i.e. 3 years only and enter the closure value date as 5-3-2013.                             
2. Once the user goes into the closure details page of the menu HCAACTD, Collect penal flag has to be chosen as ‘No’ and in closure exceptions tab, closure reason code has to be selected as ‘DTCLM’.

Short Note on Death Closure of TD Products in Fiancle

Closure Menu : HCAACTD
Value date as Completed Years only
Closure exception code : DTCLM

Normal Closure of TD in DOP Finacle

• During Normal closure, the user does not need to change the closure value date. 
• In the Closure exceptions tab User has to choose the closure reason code as ‘Normal’.

Short Note on Normal Closure of TD

Menu : HCAACTD
Value date : as Default dated (BOD Date)
Closure Exception code : Normal