# FD Products
FD is an abreviation for Fixed Deposit. The Fixed Deposit Product page enables you to create and manage Fixed Deposit products, which are investment accounts where money is locked for a specific period at a fixed interest rate. This page allows you to configure new Fixed Deposit products, manage their settings, and track the maturity and liquidation processes.
## Accessing The Fixed Deposit Product Page
1. Log into the application using your credentials.
2. From the dashboard, navigate to **Accounts** in the side menu.
3. Select **Products** from the dropdown list.
4. Select **FD Product** from the **Products** dropdown list**.**
## Creating a New Fixed Deposit Product
To create a new Fixed Deposit Product, follow these steps:
1. Click the **Add** button in the top-left corner of the Fixed Deposit Product page.
2. Complete the fields as required:
* **Name of Product:** Enter a descriptive name for the Fixed Deposit product.
* **Product Code:** Assign a 3 digit unique numeric code for the product.
* **Default Applicable Interest:** Select the product's applicable default interest rate from the dropdown list of existing active interests. If this field is empty, kindly refer to [Interest](/core-features/account-management/interest.md#create-a-new-interest) on how to create a credit interest
* **Default Interest Rate (%):** The rate configured for the selected default applicable interest is automatically populated.
* **Interest Expense Account:** Select from the dropdown list of active Interest Expense general ledgers to record interest expenses. If this field is empty, kindly refer to [General Ledgers](/core-features/account-management/general-ledgers.md#create-a-new-general-ledger) on how to create a general ledger\
Here are the properties for creating an **Interest Expense GL**.\
Step 1 - GL Creation
* **GL Name:** ABC Fixed Deposit Interest Expense
* **Level 1 Category:** Expense
* **Level 2 Category:** Interest Expense
* **Level 3 Category:** Interest Expense
* **IFRS Category:** Interest and Similar Expense
* **Transaction Permission:** Open
* **Currency:** Select your currency
Step 2 - Other Business Automation set-up
* **Account Type:** Interest Expense
* **Account:** Select the Fixed Deposit Interest Expense GL
* **Interest Payable Account:**
Select from the dropdown list of active Interest Payable general ledgers to record interest payables. If this field is empty, kindly refer to [General Ledgers](/core-features/account-management/general-ledgers.md#create-a-new-general-ledger) on how to create a general ledger \
Here are the properties for creating an **Interest Payable GL.**\
Step 1 - GL Creation
* **GL Name:** ABC Fixed Deposit Interest Payable
* **Level 1 Category:** Liability
* **Level 2 Category:** Other Liabilities
* **Level 3 Category:** Interest Accrued Not Yet Due For Payment
* **IFRS Category:** Payable
* **Transaction Permission:** Open
* **Currency:** Select your currency
Step 2 - Other Business Automation set-up
* **Account Type:** Interest Payable
* **Account:** Select the Fixed Deposit Interest Payable GL
* **Withholding Tax Account:**
Select from the dropdown list of active With-holding Tax general ledgers to record Withholding Tax deductions. If this field is empty, kindly refer to [General Ledgers](/core-features/account-management/general-ledgers.md#create-a-new-general-ledger) on how to create a general ledger. \
Here are the properties for creating a **Withholding Tax Payable GL.**
* **GL Name:** ABC Withholding Tax Payable
* **Level 1 Category:** Liability
* **Level 2 Category:** Other Liabilities
* **Level 3 Category:** Account Payable
* **IFRS Category:** Payable
* **Transaction Permission:** Open
* **Currency:** Select your currency
Step 2 - Other Business Automation set-up
* **Account Type:** With-Holding Tax Account
* **Account:** Select the With-holding Tax Payable GL
* **Default Tenure (In Days):** Specify the default tenure (duration) for the Fixed Deposit product.
* **Pre-liquidation Charge (%):** Specify the pre-liquidation charge rate, if applicable. This penal charge represents a percentage deduction to be applied on accrued interest payable to customers where they choose to liquidate their fixed deposit plan before maturity.
3. Click the **Save** button to create the Fixed Deposit product.
4. Confirm the action by selecting **“Yes, I want to proceed.”**
## Modify A Fixed Deposit Product
Here's how to modify a Fixed Deposit Product below:
1. In the **Actions** column, click the **three vertical dots** (**⋮**).
2. Select **Modify** from the dropdown menu.
3. Update the necessary Fixed Deposit Product details.
4. Click **Update** to save and apply the changes.
5. Confirm the action by selecting **“Yes, I want to proceed.”**
## Activate/Deactivate A Fixed Deposit Product:
To activate/deactivate an existing Fixed Deposit Product:
1. In the Actions column, click the three vertical dots **(⋮)** next to the Fixed Deposit Product you wish to deactivate/activate.
2. Select **Deactivate/Activate** from the dropdown menu.
3. Confirm the action by selecting **“Yes, I want to proceed.”**
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