[
http://mifosforge.jira.com/browse/MIFOS-5274?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=72357#comment-72357
]
hugotechnologies commented on MIFOS-5274:
-----------------------------------------
Our customer pay-out interest with original interest rate upon maturity.
If FD is Withdrawn Before & after maturity customer is not entitled to get
interest based on the original interest. However they pay interest with lower
interest rates.
> Add support for Term Deposits
> -----------------------------
>
> Key: MIFOS-5274
> URL: http://mifosforge.jira.com/browse/MIFOS-5274
> Project: mifos
> Issue Type: New Feature
> Components: Savings Account
> Reporter: Ed Cable
> Labels: featuretrain, prioritygaps
>
> Term deposits are a specific savings product that have a fixed term and a
> maturity. Funds cannot be withdrawn until the end of this term which results
> in a higher interest rate. They are also referred to as time deposits or
> certificates of deposit.
> For example you could have a term deposit account where a minimum balance of
> $500 must be kept in account for a term of 6 months at which time it will
> pay 2% interest.
> Term Deposit functionality could manually be configured in Mifos by defining
> a new savings product and using start and end date to create a term. This
> would correspond to the time period for interest calculation and frequency of
> interest posting to the account. One would also set the minimum balance
> required for interest calculation.
> True term deposit support would allow for defining the term, maturity date,
> and specified actions that must take place at maturity directly from the
> Mifos UI with the corresponding business logic.
--
This message is automatically generated by JIRA.
If you think it was sent incorrectly, please contact your JIRA administrators:
http://mifosforge.jira.com/secure/ContactAdministrators!default.jspa
For more information on JIRA, see: http://www.atlassian.com/software/jira
------------------------------------------------------------------------------
Live Security Virtual Conference
Exclusive live event will cover all the ways today's security and
threat landscape has changed and how IT managers can respond. Discussions
will include endpoint security, mobile security and the latest in malware
threats. http://www.accelacomm.com/jaw/sfrnl04242012/114/50122263/
_______________________________________________
Mifos-issues mailing list
[email protected]
https://lists.sourceforge.net/lists/listinfo/mifos-issues
