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Add a time deposit

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Prerequisite

The interest plan that you want to use must already exist on the platform. For more information, refer to Manage interest plans.

For a time deposit product, you must provide a maturity date. This date must respect the maximum and minimum term, if the deposit product has set them.

To add a time deposit:

  1. From the main menu, select Setup > Deposit products.
  2. On the Deposit products screen, select Create.
  3. On the Select your deposit product type screen, choose Time deposit and select Next.
  4. On the Create your time deposit product screen, enter a descriptive name for the product in the Name field.
  5. In the Interest plan menu, select the interest plan that you want to use.
  6. Select one of the following Term type buttons:
    • Flexible
    • Fixed
  7. Select one of the following buttons to select maturity instructions:
    • For the principal amount: Pay or Rollover.
    • For the earned interest amount: Pay or Rollover.
  8. (Optional) In the Fee model field, enter the name of the Fee model that you want to use to define the method used to calculate fees, such as a fixed value or a percentage. For more information, refer to Manage fee models.
  9. (Optional) For a flexible term, enter the minimum and maximum number of days that deposited funds will remain in the account.
  10. (Optional) In the Cool off period field, enter the number of days after the initial investment amount can be withdrawn without penalty. The value must be greater than or equal to funding duration (which you set in the next step).
  11. (Optional) In the Funding duration field, enter the number of days during which funds can be credited to the account before the account is blocked. If no value is set, credit operations are always allowed.
  12. Select Next.
  13. On the Attach processing codes screen, enter the processing codes (by name or by ID) to be used in the following cases:
    • Interest processing code: Used for calculating interest accrual.
    • Maturity processing code: Applied when the Product has reached its maturity date (for redemption).
    • Detach processing code: Applied when a detach happens without reaching the maturity date (for early redemption).
    • (Optional) Withholding tax processing code: Defines how the Pismo platform treats withholding tax for this product.
  14. Select Next.
  15. On the Review screen, verify that the information you provided is correct, then select Finish.

Updated 2 days ago