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Deposit Setup
Deposit setup defines the products and rules used by deposit accounts.
Workspace Reference
Open Deposits -> Setup -> Products. The workspace shows the Deposit Products table and product-level row actions for detail review, editing, product status, version history, GL mappings, GL rule mappings, pricing, campaigns, business-unit restrictions, and other product controls exposed by your permissions.
Use product setup before opening real accounts. A deposit account inherits product behavior, so product mistakes affect opening validation, transaction limits, interest, fees, maturity, dormancy, and accounting.
Deposit Products
A deposit product controls account behavior such as eligibility, currency, interest, fees, withdrawal rules, minimum balances, dormancy, fixed deposit settings, and accounting behavior.
Important setup areas include:
- Product identity and account type.
- Interest calculation and capitalization.
- Fee behavior.
- Withdrawal and transfer restrictions.
- Dormancy and account status behavior.
- Fixed deposit and maturity rules.
- GL and accounting behavior.
Deposit Product Form Areas
| Form Area | Important Fields Or Controls | What They Mean |
|---|---|---|
| Product identity | Product name, description, product type, account type or classification. | Names the product users select when opening accounts and determines which product flags are relevant. |
| Currency | Currency used by the product. | Controls account currency, transaction handling, reporting, and lookup filtering. |
| Product flags | Account features, interest and fees, limits, channels, KYC, AML thresholds, and optional behavior. | Drives most product behavior through configurable flags rather than one-off account rules. |
| Minimum balances | Minimum opening balance and minimum ongoing balance where configured. | Determines whether an account can be opened and whether balance-related restrictions or fees apply. |
| Withdrawal limits | Maximum withdrawal per transaction and daily withdrawal limit. | Controls customer access and branch transaction policy. |
| Overdraft | Overdraft allowed and maximum overdraft limit. | Determines whether an account can go negative and by how much. |
| Pricing profile | Reusable pricing profile for interest, fees, and charges. | Keeps product pricing consistent and reusable across account behavior. |
| GL mappings | Product-level chart-of-account mappings. | Determines where deposit liabilities, fees, interest, and related financial activity can post. |
| GL rule mappings | Product-level posting-rule mappings. | Allows product activity to create controlled journal entries. |
| Business-unit restrictions | Branches or operating units where the product is available. | Prevents users from opening accounts on products not approved for their unit. |
Product Flags
Product flags control optional behavior such as whether overdrafts, interest, fees, early withdrawals, maturity instructions, or dormancy rules apply.
Common flag groups include:
| Flag Group | Examples | Operational Effect |
|---|---|---|
| Account features | Individual, group, joint, goal-based, fixed-deposit, or other product capability. | Controls which account holder structures and account features users can use. |
| Interest and fees | Interest-bearing, interest payout, fee charging, minimum balance fee. | Controls product earnings, charges, and EOD calculation behavior. |
| Limits and access | Minimum balances, withdrawal limits, overdraft rules, access channels. | Controls transaction acceptance and available balance behavior. |
| Compliance | KYC, AML, age, or threshold-driven restrictions. | Controls whether the product can be used for the selected customer profile. |
| Maturity and dormancy | Fixed-term behavior, renewal, maturity instruction, dormancy period. | Controls scheduled lifecycle events handled by EOD or fixed-deposit processing. |
WARNING
Do not bypass a failed account-opening validation by loosening product flags without finance and operations review. The validation usually points to a real setup rule: currency, opening balance, customer type, KYC, branch availability, or product status.
Setup Checklist
Before opening accounts on a product:
- Confirm interest and fee behavior.
- Confirm withdrawal and maturity rules.
- Confirm status and dormancy policy.
- Confirm accounting configuration.
- Test account opening, transaction processing, interest, fees, and closure behavior.