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Time deposits: Interest is not calculated till termination date

robin_p2
Discoverer
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Hello Experts,

I have created an Time deposit contract with fixed amount of 5000 for 6 months. Calculation and settlement frequency is monthly and i.e on last day of the  month.

Now, after 2 month of settlement ( for example from 1st  Jan to 28th of Feb ), I terminated the account on 15th march. After termination order, I expected account should calculate interest from 28th Feb to 15th march and then close the account, but there is no settlement posting on account on termination date.

I am not sure but it could be due to the conditions set up in the account.

Could anyone help me to find out how can we calculate interest till termination date.

Thanks,

Robin

3 REPLIES 3

Former Member
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At the time of cal of interest enter the cal period as 28 .02.XXXX to 15.03.XXXX then it will call the interest up to march 15th

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15th march is only an example it can be any date.

In real scenario there can be thousand contract and we cant go and change calculation date for every contract.

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Hi Robin,

Are you able to close the account without early withdrawal and can you please tell me in which status the time deposit agreement is?