In the previous, we learn about to Opening of LABOD account in finacle. When we open a LABOD account against the FDR, then we should have to link that FDR to the loan account for the purpose of lien & customer can't break this FDR before the settlement of LABOD account.
In other word, we should have to lien their FDR as security, in the bank custody along with their loan document & link this to the loan account.
Here to follow the step by which we make lien on FDR as collateral security.
Step 1 -
Use the Menu - HCLM
Step 2 -
Function - L-Lodge
Type - D-Deposits
linkage Type - A/c
A/c. ID - write the loan account number
then ACCEPT
As see below-
Step 3
Collateral Code - DEPOSITS
Collateral Class - 01A
Ceiling Limit - FD amount
Dr. A/c for fee - Loan a/c number
Nature - Primary
then VALIDATE
Step 4
Now go to the Particulars field
Received Date - 09-09-2016 (say)
Review Date - 08-09-2017
Due Date - 09-09-2017
Dep. A/c. ID - write the FD account number
Apportion Value - write the value of FD
then SUBMIT
Now we complete the process of collateral linkage.
I hope it will helpful, when you open a LABOD account after that you have to the linkage of FDR. If any suggestion and idea share with me, you can write down in comments.
Thanks...!!!
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