MIS / SCSS / TD Interest Withdrawal in DOP Finacle

In Finacle, Interest for TDA accounts (MIS/SCSS/TD) is not credited to the MIS / SCSS / TD Accounts. 

As a batch process, interest due is automatically calculated and paid to the SB account of the customer in the case of accounts with linked SB account for interest credit.

For accounts without linked SB account, the interest is parked into the Sundry Account of the respective scheme

Sundry Accounts :

• MIS Sundry Account : SOL ID + 0337
• SCSS Sundry Account : SOL ID + 0338
• TD Sundry Account : SOL ID + 0335

Unpaid interest for each account is available in schemewise Sundry Accounts. HTM is the menu option used for withdrawal of MIS/SCSS/TD interest.

MIS/SCSS/TD Interest can be paid either through cash, transfer to SB Account or Post Office cheque 

MIS Interest Withdrawal (Payment through Cash) :

·         Invoke Menu option HTM

1.   Function : Add

2.   Transaction Type :C/NP - Cash/Normal Payment

3.   Click Go

·         Now provide the details as mentioned below

1.   A/c ID : SOL ID + 0337 for MIS

2.   Amt. : _____

3.   Ref. No. : MIS Account number

4.   Click Go

1.   Start Amt : Blank

2.   End Amt : Blank

3.   Ref No : MIS Account number

4.   Click Go

·         Select the Tran. Details as shown in the below screenshot and 

·         Click Accept

·         Now you will be taken back to the first screen as shown in the below screenshot

·         Click Post

Note down the Tran ID on the voucher and get it verified by the supervisor

·         Supervisor has to invoke menu HTM for verifying this transaction

1.   Function : Verify

2.   Tran ID : _____

3.   Click Go

·         Now you will get a screen as shown below

·         Click Submit

MIS Interest Withdrawal ( Transfer to SB / Cheque ) :

·         Invoke Menu option HTM

1.      Function : Add

2.      Transaction Type :T/CI - Customer Induced

3.      Click Go

·         Now provide the details as mentioned below

1.      Part Transaction Type : Debit

2.      A/c ID : SOL ID + 0337 for MIS

3.      Amt. : _____

4.      Ref. No. : MIS Account number

5.      Click Go

1.      Start Amt : Blank

2.      End Amt : Blank

3.      Ref No : MIS Account number

4.      Click Go

·         Select the Tran. Details as shown in the below screenshot and 

·         Click Accept

·         Now you will be taken back to the first screen as shown in the below screenshot click Add

·         Now provide details as mentioned below

1.      Select Part Transaction Type : Credit

2.      A/c ID : Customer SB Account number OR [ SOL ID + 0340 for payment through cheque ]

3.      Click [3=3] button, amount will be automatically fetched.

4.      Click Post

Note down the Tran ID on the voucher and get it verified by the supervisor

In the same way you can do the SCSS and TD interest withdrawals by giving their respective sundry accounts as shown above.

Note :

• When SCSS / MIS interest is calculated for the first time after migration, Finacle calculates the total interest payable from the date of opening till the date of payment and the actual interest paid till date; if there is any difference between due amount and paid amount, the difference gets adjusted in the first payout. Due to this adjustment, first interest payment in Finacle could be higher or lower than the fixed quarterly / monthly interest paid in Sanchay Post.
• The total amount payable to the customer during the 5yr/6yr period of the account, remains the same as in Sanchay Post and as per the rate of interest at the time of account-opening

Click here to Download Fmenu - DOP Finacle Menu List