Term Deposit - Full Redemption - Interest Accrued Reversed (Doc ID 3064111.1)

Last updated on JANUARY 07, 2025

Applies to:

Symptoms

On : 14.6.0.5.0 version, Production Support-SET
Patch set :14.6.0.5.0 , Maintenance line

Term Deposit - Full Redemption - Interest Accrued Reversed

ACTUAL BEHAVIOR:
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During TD full redemption on a matured TD, system is reversing interest accrued and not liquidating to payout account.
Term deposit amendment is performed on the maturity date and modified maturity instruction from 'Move Principal and Interest to Unclaimed' to 'Auto Rollover - Principal'. After the TD amendment full redemption is performed.
System has credited principal outstanding to payout account, but interest is reversed and not credited to payout account.

EXPECTED BEHAVIOR
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System should not reverse interest accrued during full redemption of a matured TD.

STEPS
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The issue can be reproduced at will with the following steps:
1. Book new TD with maturity instruction as 'Move Principal and Interest to Unclaimed'.
2. Execute EODs to move to maturity date.
3. Perform TD amendment to modify, maturity instruction from 'Move Principal and Interest to Unclaimed' to 'Auto Rollover - Principal'.
4. Perform full redemption.
System has credited principal outstanding to payout account, but interest is reversed and not credited to payout account.

BUSINESS IMPACT
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The issue has the following business impact:
Financial Impact due to interest does not liquidate to customer account.

Changes

 Fix :- Interest accrued is reversed and not credited to payout account during TD redemption while changing the maturity instruction from Move Principal and Interest to Unclaimed on maturity date.

Cause

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