Recurring Deposits

Recurring Deposits manages contractual savings where a member commits to a fixed periodic instalment over a set tenure, earning interest on the accumulating balance. Each mfi.recurring.deposit record tracks the instalment amount, schedule, instalments paid/missed and the maturity value.

Workflow

Open Savings > Operations > Term Deposits > Recurring Deposits.
Create a record with the member, instalment amount, frequency and tenure.
Activate the plan to begin the instalment schedule.
Post each periodic instalment as it is collected (or via standing order).
Monitor missed instalments and apply penalties per product rules.
Process the maturity value on completion of the tenure.

Fields reference

Every field on this screen, drawn from the live data model.

Field	Type	Required	Description
Savings Account `account_id`	Link → mfi.savings.account	Yes	Savings Account
Installment Amount `installment_amount`	Money	Yes	Installment Amount
Frequency `frequency`	Choice: Weekly, Monthly	Yes	Frequency
Tenure (Months) `tenure_months`	Number	Yes	Tenure (Months)
Interest Rate (%) `interest_rate`	Decimal	Yes	Interest Rate (%)
Start Date `start_date`	Date	Yes	Start Date
Has Message `has_message`	Yes/No	—	Has Message
Member `member_id`	Link → mfi.member	—	Member
Branch `branch_id`	Link → mfi.branch	—	Branch
Currency `currency_id`	Link → res.currency	—	Currency
Company `company_id`	Link → res.company	—	Company
Maturity Date `maturity_date`	Date	—	Maturity Date
Expected Maturity Amount `maturity_amount`	Money	—	Expected Maturity Amount
Total Deposited `total_deposited`	Money	—	Total Deposited
Total Installments Expected `total_expected`	Number	—	Total Installments Expected
Installments Paid `installments_paid`	Number	—	Installments Paid
Installments Missed `installments_missed`	Number	—	Installments Missed
Completion % `completion_pct`	Decimal	—	Completion %
Next Installment Due `next_installment_date`	Date	—	Next Installment Due
Total Penalty Charged `penalty_charged`	Money	—	Total Penalty Charged
Days Remaining `days_remaining`	Number	—	Days Remaining
Status `state`	Choice: Active, Matured, Closed	—	Status
Notes `notes`	Long text	—	Notes

Actions & buttons

Buttons available on this screen and what they do:

Process Maturity

Status lifecycle

Records on this screen move through these statuses:

Active → Matured → Closed

Notes & rules

Records on mfi.recurring.deposit with list, form and calendar views.
Interest accrues on the growing balance across the contracted tenure.
Missed or late instalments may attract penalties per product configuration.

Technical model: mfi.recurring.deposit · Record: Recurring Deposit