Core banking software for managing Overdraft or Cash credit for Co-operative bank
Software-powered overdraft management system on Core banking platform automates end-to-end right from overdraft origination to periodic interest application, schedule standing instruction, limit enhancement, renewals, and closure. The intelligent overdraft
system recommends credit limits and overdraft period against various factors including collaterals such as Gold, Property, Share, Membership, vehicles and more.
- User definable Overdraft Type and its attributes.For a given overdraft type different rates can be set for different limits and these rates can be revised. New limits can also be defined for the overdraft type.
- Overdraft types can be defined against surety of Member, Vehicle, Property, Gold and Deposit. The criteria’s to be considered for Limit determination can be given individually for each surety type.
- NPA grades can be defined for each Overdraft Type.
- Overdraft Application Processing.
- Overdraft applicant details fetched directly from membership module based on the given member number.
- Member Liability statement As on a date.
- For OD against Member or Deposit surety details will be fetched directly from the respective modules.
- Recommended Limit calculation based on surety and generation of report for submission to committee.
- All Overdraft related transactions can be carried out from a single user interface (screen).
- OD Interest calculation based on daily minimum balance.
- Interest amount and Interest up to date will be calculated based on Transaction date or on the amount involved in the transaction.
- Cheque validation during payment transaction. (Cheque Number, Cheque Date, Account Limit)
- Provision for renewal OD account based on overdraft type attributes and renewal history is maintained.
- OD account limit can be revised. Interest dues will be calculated based on the limit applicable for the period concerned.
- Provision for declaring an account as NPA.
- Details of Bills pending for the account can be retrieved directly.
- Overdraft transactions shown in a tabular format with the last three transactions immediately visible.
- Provision for entering other charges.
- Account holder addresses can be updated from Overdraft module itself, which will be reflected in membership module also.
- Interest Application Wizard for calculating and applying interest for all accounts of the selected overdraft type for the specified period.
- Provision for issuing Stop Memo against an account or Stop Payment against a cheque.
- Provision to Return/ Refer cheque leaves.
- Overdraft Registers (Opened, Closed, Freezed, Expired).
- Overdraft Annual Statement, Summarized or Detailed or Rangewise Overdraft As On statement.
- Cheque Stop memo, Returned and Returned Listing.
- OD Account Balance Confirmation certificate.