Premature Closure
Invoke the RD Closure menu CRDCAAC from Operator
Login. System will automatically deduct the RD Loan amount and interest will be
calculated on SB Rate of interest as per rule. Loan interest will not be
calculated. RD Loan account balance will become 0 but will not be closed. Loan account with Zero balance should be
remained as it is and not closed. No need to invoke HLAUPAY or HPAYOFF for
repaying the Loan amount.
On Maturity
RD Loan amount should be adjusted before closing the
RD account. Invoke the menu HPAYOFF (Loan Pay Off Process) to pay the pending
principal along with interest. Interest will be calculated at the prescribed
rate. Total amount displayed to be collected from the customer. In case of
transfer, select the repayment account of customer or office account from where
the loan amount is adjusted. Supervisor need to verify the same. Invoke the
menu HCAAC to close the RD Loan account and verify the same. Invoke the menu
CRDAAC to close the RD Account.
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