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.

Recurring Deposits
Recurring Deposits — live screen from the BridgeERP MFI Suite.

Workflow

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

Fields reference

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

FieldTypeRequiredDescription
Savings Account
account_id
Link → mfi.savings.accountYesSavings Account
Installment Amount
installment_amount
MoneyYesInstallment Amount
Frequency
frequency
Choice: Weekly, MonthlyYesFrequency
Tenure (Months)
tenure_months
NumberYesTenure (Months)
Interest Rate (%)
interest_rate
DecimalYesInterest Rate (%)
Start Date
start_date
DateYesStart Date
Has Message
has_message
Yes/NoHas Message
Member
member_id
Link → mfi.memberMember
Branch
branch_id
Link → mfi.branchBranch
Currency
currency_id
Link → res.currencyCurrency
Company
company_id
Link → res.companyCompany
Maturity Date
maturity_date
DateMaturity Date
Expected Maturity Amount
maturity_amount
MoneyExpected Maturity Amount
Total Deposited
total_deposited
MoneyTotal Deposited
Total Installments Expected
total_expected
NumberTotal Installments Expected
Installments Paid
installments_paid
NumberInstallments Paid
Installments Missed
installments_missed
NumberInstallments Missed
Completion %
completion_pct
DecimalCompletion %
Next Installment Due
next_installment_date
DateNext Installment Due
Total Penalty Charged
penalty_charged
MoneyTotal Penalty Charged
Days Remaining
days_remaining
NumberDays Remaining
Status
state
Choice: Active, Matured, ClosedStatus
Notes
notes
Long textNotes

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

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