BANKING (Documentation of Deposit Module)

Introduction : In Deposit module, a deposit account is a savings account, current account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank and represents the amount owed by the bank to the customer. Some banks may charge a fee for this service, while others may pay the customer interest on the funds deposited. Aim: To monitor the Deposit module for Banking project by Customer. There are two types of Deposits, 1) Fixed Deposit 2) Recurring Deposit Activities: 1) Customers can create deposit. 2) He should mention the amount he wanted to deposit. 3) He should have the interest pay of mode (monthly, Quaterly, half yearly, annual). 4) He should note the premature time. Customer can view the details to get the following details. 1) date of opening 2) Maturity date 3) Maturity amount 4) Interest rate 5) mode 6) Principal amount Aim: To monitor the Deposit module for Banking project by Administrator. Activities: 1) Admin can view all the account details. 2) He can reduce the amount from interests. 3) He can approve the deposits.