Core banking software for managing Overdraft or Cash credit for Nidhi Company
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.
