Posting Restriction
Banks employ posting restrictions to regulate transactions in deposits. Posting restrictions are transaction-based controls, that prevent transactions from being posted for the purpose of operational control. A typical business case in which a bank applies a posting restriction to control credits is for non-resident accounts, where there could be restrictions against the deposit of local currency amounts into the deposit.
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
Manage Interest
Banks can pay interest to the customers on credit balances held in their deposit accounts. The interest can be changed in the following ways
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Update the interest conditions of the term deposit such as interest rate, spread, margin etc
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Retrieves the interest details of an account such as interest rate , interest type and interest amount
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Retrieves the interest accrued for the current period of an account
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Retrieve the past period's interest accruals
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Retrieves the interest accruals of the previous year