A Deposit Account is an instance of a Deposit Product. Every Deposit Account has a unique account number and an interest rate (depending on the term). Deposit Accounts are owned by Clients. 

A Deposit Account can be created for an activeclient based on a Deposit Product that is active on the submitted date. When a Deposit Account is created, it inherits the rules and default configurations from the Deposit Product. Your financial institution may allow some of the inherited information to be modified for a Deposit Account, depending on how the Deposit Product is defined.

Deposit Accounts can be created for:

1. Fixed Deposit Product (FD Product)
2. Recurring Deposit Product (RD Product)

Creating a Deposit Account (for Fixed Deposit Product)

1. Go to the Clients List by navigating to Clients → Clients from the top menu bar.

2. Select the Client (for whom the FD account needs to be created) from the list of clients.

3. In the Client’s profile, click on the ‘Hamburger‘ option and click on ‘New Fixed Deposit‘ from the drop-down menu.

4. After clicking on ‘New Fixed Deposit‘, the Fixed Deposit Application will open (as shown below). 

NOTE: Fields with a red asterisk “*” beside them are mandatory.

Field Name	Description	Example	Validations
Submitted On	Enter the FD Application Submitted Date provided by the Client.
Deposit Amount	Enter the Deposit Amount (it should be between the minimum and maximum deposit amount provided in the FD product).
Deposit Period	Provide the duration of the deposition.
Locking Period	The amount can be locked for a given period during which withdrawal or premature closure of FD Account is not possible.
Link Savings	Once the FD reaches to maturity, the interest can be posted to the given savings account.

5. Once all the details are entered in the FD application and the application has been submitted, it needs to be approved with the date of approval.