Fixed Deposit Liquidation

The Fixed Deposit Liquidation page allows you 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 account. This guide will walk you through viewing and processing fixed deposit liquidations.

Accessing Fixed Deposit Liquidation

1. Navigate to Postings in the left sidebar

2. Expand FD Liquidation & Top-up

3. Select Fixed Deposit Liquidation

Processing a Fixed Deposit Liquidation

1. Click the Liquidate FD button at the top left of the page

2. Enter at least one of the following to search for the account Account Number, Account Name, or Reference Number

3. Click Search

4. Select the correct account from the Customer Details results

5. Review the FD Account Summary and Linked Account Summary to confirm you have selected the correct account

6. Under Liquidation Details, select the Liquidation Type from the dropdown Full Liquidation or Part Liquidation

7. Enter the Liquidation Amount for Full Liquidation this reflects the total FD balance, for Part Liquidation enter the specific amount to be withdrawn

8. Enter the Early Liquidation Charge Rate (%) if applicable

9. Review the auto-populated Identifier and update if necessary

10. Enable Use Current Financial Date to use today's date or enter a specific Effective Date

11. Click Liquidate to process the liquidation

Note: Always confirm the Early Liquidation Charge Rate with your finance team before entering it, applying an incorrect rate will reduce the amount credited to the customer's linked account and will require a manual correction.

Filtering Fixed Deposit Liquidation Records

1. Click the Filter button at the top right of the page

2. Enter your preferred filter criteria

3. Click Apply to display the filtered results