Term Deposit Management System

    

Our software program to calculate interest and tax deducted at source on fixed deposits is a web based solution as well as desktop solution. It is usable by banks, businesses or individuals

Features List

  • Calculates interest payable to the depositor monthly or quarterly or accumulates the interest quarterly as per the choice of the depositor.
  • Calculates the TDS on the interest earned/accrued/paid.
  • Calculates the tax to be deposited by the bank each month in respect of all the FDs by automatically selecting the appropriate FDs each month, along with a list of all details of the concerned FDs.
  • If the TDS rate is changed by the government at any time the program takes the revised rate from the applicable date.
  • As soon as an FD is opened, all calculations from beginning to end can be made immediately.
  • TDS certificate can be given by the bank immediately at the end of the financial year.
  • The program can also handle premature withdrawals of part or the whole FD.
  • All parts of the program run automatically once the data is filled in.
  • The program generates a number of reports.
  • The program also allows for change of rate of interest at any time during the validity of an FD, so that from the date of change, the revised rate of interest applies.
  • The program can calculate the interest accrued in any period, say a month etc.
  • The last two features are unlikely to be found in any other program for FDs.
  • We can develop the program for payment/accumulation after 6 months or a year or after any period.