Fixed deposits creation application in Banking Domain

A customer wanted to make an investment in to fixed deposit for a specified amount. So he

approached the bank to do this. The following are the steps followed when he goes to the bank.

1. Customer enquiry
a. He approaches the bank office and contacts the bank officer
b. The bank officer asked him about the purpose of customer visit to bank
c. The customer says he wants to have a fixed deposit with the bank
d. The officer says what is the amount and for what duration.
e. The customer asks the bank to provide him different options in terms of interest
rates/time periods and penalties involved if the FD is cancelled before maturity.
f. The officer provides the customer with details of time frames/interest rates and
penalties in case of premature cancellation of deposits.
g. The customer opts for the FD for a specific time frame and specific amount for the
deposit
2. Checking existence of account
a. The bank officer enquires whether the customer has an account with the bank.
b. If no account exists, the officer would request the customer to open an account with
the bank.
3. Account creation
a. The customer would fill the application form and handover it to the officer.
b. The officer would ask for the Aadhar,PAN
c. The customer provides the both the documents mentioned above
d. The bank officer validates the Aadhar and PAN
e. The customer will fill the pay-in challan along with the minimum deposit for the
account
f. The bank officer takes the cash and opens the account and the account is updated
with the balance and the pass book is created
g. The passbook is handed over to the customer
4. FD creation and handing over
a. If the account exists, then the bank officer would check the balance in the account
and see if this is sufficient to create the FD after meeting the minimum balance
requirements.
b. The customer fills the application for the fixed deposit form and hands over to the
bank officer.
c. The bank officer checks the account of the customer and then credits the amount to
the fixed deposit account and debits customer account.
d. The customer account would reflect new balance (original balance minus the FD
amout)
e. The Bank officer fills the fixed deposit certificate and get it signed by the signatories.
f. The fixed deposit certificate is handed over to the customer.