Fixed Deposit Liquidation
A guide to viewing fixed deposit liquidation records and processing the liquidation of fixed deposit accounts in Udara360.
Fixed Deposit Liquidation enables authorized users to process the liquidation of a customer's fixed deposit account, either in full or in part before or at maturity. When a fixed deposit is liquidated, the principal amount and any applicable interest are transferred to the customer's linked current or savings account, subject to any early liquidation charges configured by the institution.
Because liquidation directly affects the customer's fixed deposit balance and linked account, this process must be carried out carefully and only after confirming the customer's request and verifying the applicable charges.
To access Fixed Deposit Liquidation, navigate to Postings in the left sidebar, expand FD Liquidation & Topup, and select Fixed Deposit Liquidation.
Prerequisites
Before processing a fixed deposit liquidation, ensure the following:
Your user role includes permission to access Fixed Deposit Liquidation under Postings in Udara360
The customer has formally requested liquidation of their fixed deposit and the request has been verified
The applicable early liquidation charge rate has been confirmed with your finance team, this rate is applied when a fixed deposit is liquidated before its maturity date
The customer's linked current or savings account is Active and available to receive the liquidation proceeds
The effective date for the liquidation has been confirmed, this determines the date the transaction will be posted in the institution's financial records
Viewing Fixed Deposit Liquidation Records
Upon accessing the Fixed Deposit Liquidation page, a table displays all previously processed fixed deposit liquidation transactions. Each record shows the financial date, transaction date, account name, FD account number, branch, liquidated amount, posting reference number, instrument number, narration, and the user who initiated the transaction.
Use the Filter button at the top right to narrow results by specific criteria, or click Reset Filter to clear any applied filters. Use the Show dropdown at the top left to adjust the number of entries displayed per page.
Processing a Fixed Deposit Liquidation
Open the Account Search, click the Liquidate FD button at the top left of the Fixed Deposit Liquidation page. The system will navigate to the account search page.
Search for the Customer's Fixed Deposit Account, enter at least one of the following details to locate the fixed deposit account:
Account Number: the unique FD account identifier
Account Name: the name of the account holder
Reference Number: the reference number associated with the account
Click the Search button to retrieve matching accounts. A Customer Details popup will appear displaying the Customer ID, Name, and Account Number for each matching result.
Note: A customer may hold multiple fixed deposit accounts. Confirm the correct FD account number with the customer before selecting to ensure the right account is being liquidated.
Select the Fixed Deposit Account, click on the correct account from the Customer Details results. The system will load the full Fixed Deposit Liquidation form showing the FD Account Summary, Linked Account Summary, and Liquidation Details.
Review the FD Account Summary section displays the key details of the selected fixed deposit account:
Account Name: the name of the fixed deposit account holder
FD Account Number: the unique identifier of the fixed deposit account
Product Name: the fixed deposit product type
Branch: the branch where the fixed deposit is domiciled
Account Status: the current status of the fixed deposit account
FD Ledger Balance: the total ledger balance of the fixed deposit
FD Available Balance: the balance currently available for liquidation
Review these details carefully to confirm the correct fixed deposit account has been selected before proceeding.
Review the Linked Account Summary section displays the details of the customer's linked current or savings account that will receive the liquidation proceeds:
Account Name and Product Name
Ledger Balance and Available Balance
Branch and Account Status
Account Officer: the officer assigned to manage the linked account
Note: Confirm that the linked account is Active before proceeding. If the linked account shows a Dormant or Frozen status, do not process the liquidation without first following your institution's account reactivation procedure.
Complete the Liquidation Details section, fill in or review the following fields:
Liquidation Type: select the type of liquidation from the dropdown. Available options include:
Full Liquidation: liquidates the entire fixed deposit balance
Part Liquidation: liquidates a portion of the fixed deposit balance
Liquidation Amount: enter the amount to be liquidated. For Full Liquidation this will reflect the total FD balance. For Part Liquidation enter the specific amount to be withdrawn
Early Liquidation Charge Rate (%): enter the percentage charge applicable for early liquidation if the fixed deposit has not yet reached maturity. This rate is applied to the liquidation amount to calculate the charge deducted before the proceeds are credited to the linked account
Identifier: the system auto-populates this field with a standard liquidation narration referencing the account details. Review and update if necessary
Use Current Financial Date: enable this checkbox to use the current financial date as the effective date for the liquidation posting
Effective Date: if the Use Current Financial Date checkbox is not enabled, enter the specific date the liquidation should be posted against in the institution's financial records
Note: For Part Liquidation, ensure the liquidation amount does not exceed the FD Available Balance displayed in the FD Account Summary section.
Warning: The Early Liquidation Charge Rate directly reduces the amount credited to the customer's linked account. Confirm this rate with your finance team before processing — applying an incorrect charge rate will require a manual correction and may affect the customer's trust in the institution.
Submit the Liquidation once all required fields are completed and all details have been verified, click the Liquidate button at the bottom of the form to process the fixed deposit liquidation. The transaction will be posted to the institution's financial records and the liquidation proceeds, net of any applicable charges will be credited to the customer's linked account.
To cancel and return to the list page without processing, click the ← List page button at the top left. To search for a different account, click the Search button at the top right.
Best Practices
Always confirm the customer's liquidation request in writing before processing, fixed deposit liquidations, particularly early liquidations, have financial consequences for the customer that should be clearly communicated and acknowledged before proceeding
Verify the Early Liquidation Charge Rate against your institution's current product terms before entering it, an incorrect rate applied at this stage cannot be corrected without processing a manual adjustment
For Part Liquidation, confirm the exact amount the customer wishes to withdraw and cross-check it against the FD Available Balance before submitting
After processing, provide the customer with the posting reference generated for the liquidation, this serves as their transaction confirmation and is critical for dispute resolution
Troubleshooting
Account not found on the search page
Incorrect account number, name, or reference number entered
Verify the customer's FD account details and retry, searching by Account Number gives the most precise result
Multiple accounts returned for the same customer
The customer holds more than one fixed deposit account
Confirm the correct FD account number with the customer before selecting
Linked account showing Dormant or Frozen status
The customer's linked current or savings account is inactive
Do not proceed, follow your institution's account reactivation procedure before processing the liquidation
Liquidation Type dropdown showing no options
Liquidation types have not been configured in the system
Contact your system administrator to verify product configuration in the Administrator Portal
Liquidate button not responding
One or more required fields in the Liquidation Details section are incomplete
Ensure the Liquidation Type, Liquidation Amount, and Effective Date fields are all completed before submitting
Liquidation amount exceeding FD Available Balance
A Part Liquidation amount greater than the available balance was entered
Reduce the liquidation amount to match or fall below the FD Available Balance shown in the FD Account Summary
Early Liquidation Charge Rate field showing incorrect default
The system default rate may not reflect your institution's current product terms
Enter the correct rate manually after confirming with your finance team
Transaction not appearing in the list after processing
The liquidation may be pending approval
Refresh the page and check the list, if the record is still absent contact your system administrator
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