Field

Description

Grace Flat Rate

Mnemonic: DMFPTR

Use this field to indicate whether the Base Rate (from the Deposits > Account Information > Interest Fields screen) should be used as a flat interest rate on the customer account during the grace period.

If this field is marked, the use of tiers during the grace period will not be allowed (tiers are set up on the Deposits > Definitions > Rate Tiers screen).

Renew at High Rate

Mnemonic: DMHIGR

Use this field to indicate whether the customer account should be renewed at the highest interest rate available during the grace period. If this field is marked, the rate will be stored in the Renewal Rate field below. The High Rate Date field below is only valid when this field is marked.

New Maturity Date if Deposit During Grace

Mnemonic: DMNWAG

Use this field to indicate whether a new Maturity Date should be assigned to the customer account when it experiences activity during the grace period. Renewal transactions and deposits are considered account activity.

New Maturity Date if Withdrawal During Grace

Mnemonic: DMNWWG

Use this field to indicate whether a new Maturity Date should be assigned to the customer account when it experiences activity during the the grace period. Renewal transactions and withdrawals are considered account activity.

New Maturity Date as of High Rate Date

Mnemonic: DMNWMT

Use this field to indicate whether the customer account will use the High Rate Date field below during the grace period to calculate the customer account's new Maturity Date.

Pay Interest During Grace

Mnemonic: DMINGR

Use this field to indicate whether interest is posted to the customer account during the grace period.

Interest postings at the end of the month will not pay interest for days in the grace period. If the interest rate is temporary, no interest should be paid until the grace period has ended. When renewal transactions are processed, interest will not be accrued at the old rate, and the new rate will be in effect for the new term beginning with the Maturity Date. If the new rate is used during the grace period, the accrued interest will not change after the grace period.

Interest features for customer accounts can be viewed and edited on the Deposits > Account Information > Interest Fields screen.

Grace End Date

Mnemonic: DMLDGP

This field contains the date on which the grace period for the customer account will end. This date is determined by adding the number of days in the Renewal Grace Term field to the Maturity Date. Renewal notices will be produced in the afterhours on this date.

If a manual roll, renew, or end grace transaction is processed with an effective date for the new maturity, the date in this field will be changed to the transaction date. For example, if an account matures on 2/1/14, and the Renewal Grace Term is 7, then this field will show 2/8/14. Funds are not available on the date specified in this field.

Renewal Rate

Mnemonic: DMNRAG

This field contains the rate at which the customer account will renew if rate and tier pointers are not being used (rate and tier pointers are designated for individual customer accounts on the Deposits > Account Information > Interest Fields screen and created on the Deposits > Definitions > Rate Table and Rate Tiers screens).

The system will first attempt to use this field to determine the new rate for an account when it renews. If there is no value in this field, the system will then attempt to use the End of Term Rate Pointer and End of Term Tier Pointer fields to determine the new rate (and tier pointer) instead.

High Rate Date

Mnemonic: DMDTHR

This field contains the date the highest interest rate was effective during the grace period on the customer account. This date can be used to start the next term of the account. This field is only valid when the Renew at High Rate field above is marked.