MicroBanker SRTE: Current Accounts

Functions and Features

• Fully integrated with Savings, Loans, Sare Accounts, Time Deposit, Customer and General Ledger modules.
• Automatic generation of journals for (i) Monthly or Quartely interest transfer from Time Deposit to Current account (ii) Automatic recoveries from Current Accounts to repay a loan.
• No limit on the number of accounts per customer.
• No limit on the number of Current Account products per bank.
• Overdraft facility with unlimited number of overdraft slabs per account, whereby each slab, representing an overdraft level, is charged at an incremental interest rate.
• Automatic update of General Ledger at end-of-day with Current Account transactions for that day.
• Automatic update of General Ledger with debit interest capitalization (interest earned on overdraft accounts) at the end-of-month or quarter or year.
• Controls for (i) Verification of available balance upon withdrawal (ii) Transactions on dormant account (iii) Maintenance of user defined minimum balance for non-overdraft accounts (iv) Minimum opening balance for new accounts (v) Cheque numbers actually issued and used (vi) stopped cheques.
• Statements of Account are printed daily or weekly or monthly or quarterly or upon customer request.
• User defined period for dormancy.
• Full support for ledgerless operations.
• Facility to place a Hold on (part of) the balance of an account for a specified period of time.
• Dual account ownership allows full customer information of both customers for one account.

Interest Schemes

• Interest rates for overdraft accounts set per account and per overdraft level, effectively allowing an unlimited number of rates per account, depending on the debit balance.
• Choice of 360 or 365 days per year as interest divisor.
• User selectable monthly, quarterly, bi-annual or annual interest capitalization.