Core Banking software for Fixed Deposit management of Nidhi Company
Fixed Deposit Management Software for managing varied types of simple and cumulative deposit schemes of Nidhi Company of all sizes. Feature-rich FD software enables Interest calculation daily, monthly, quarterly, half-yearly or yearly and may be paid
at the end of the deposit term, monthly, quarterly, or half-yearly. Interest on broken deposits can be automatically recalculated at a special break rate and recover overpaid interest, deposit maturity reminders, deposits can be
rolled over or paid out, provision to park matured deposits under maturity scheme, scheme-wise interest rate management, KYC and CKYC management, TDS calculation and deduction PAN wise, premature closure, interest provision calculation,
deposit certificate printing, FD loan on principal, and cumulated interest, and more
- User definable deposit types and its attributes.
- For a given deposit type, different interest rates can be set for different customer types for a period.
- Provision to capture rates for Loan on deposit.
- Automatic account number generation.
- Joint account operation with up to four depositors.
- Provision to capture Operator/Nominee/Guardian details.
- Provision to freeze accounts.
- Interest Application Wizard for calculating and applying interest for all accounts of the selected deposit type for the specified period.
- Interest calculation takes holidays also into account if maturity date falls on a holiday. (depends on the attributes set during deposit definition).
- Compound Interest Calculation (Monthly, Quarterly, Half yearly, Yearly).
- Automatic lien adjustment during account closing.
- Matured Deposit Transfer wizard for automatic closure of matured accounts of the selected deposit type and opening of respective Matured Deposit accounts.
- Cash Transaction limit verification during payment.
- Renewal of accounts allowed based on deposit type attributes and renewal history is maintained.
- TDS Management
- KYC Management
- CKYC Management
- SMS Alert