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Function documentationCondition Fixing for Fixed-Term Deposit Accounts

 

You use condition fixing to specify which condition the system is to use for account balancing.

Features

Condition Validity

On the account master, you specify a date when the condition must be fixed. Conditions that are valid on any date as given below are used by account balancing:

  • Term start date of a term agreement

  • Account opening date

  • Date of offer conversion

  • A specified date between the account opening date and the term start date. If you choose this option, balancing for the first term agreement considers the conditions that are valid on the specified date. For rollovers, account balancing considers the conditions that are valid on the term start date of the rollover.

Account balancing considers conditions as fixed above for the duration of the term agreement. For the period before the term agreement starts, the prevailing rates are considered.

Standard and Individual Conditions

If the standard condition only is available, the system fixes the standard condition based on the condition validity that you defined in the account master. Even if the standard condition is not valid until the end of the term, the system still uses the standard condition for the entire term.

If both the standard condition and individual condition are available, the system fixes the individual condition based on the condition validity that you defined in the account master for the entire term. Even if the individual condition does not apply until the end of the term, the system still uses the individual condition for the entire term.

More Information

For more information, see Condition.