Procedure of RD
account closure when RD Loan was taken
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.
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.
