iBanking, Overdraft / Cash Credit

Overdraft software for Nidhi Company, NBFC, Urban Co-operative bank, Service Co-operative bank, Society, Microfinance

  • User definable Overdraft Type and its attributes.For a given overdraft type different rates can be set for different limits and these rates can be revised. New limits can also be defined for the overdraft type.
  • Overdraft types can be defined against surety of Member, Vehicle, Property, Gold and Deposit. The criteria’s to be considered for Limit determination can be given individually for each surety type.
  • NPA grades can be defined for each Overdraft Type.
  • Overdraft Application Processing.
  • Overdraft applicant details fetched directly from membership module based on the given member number.
  • Member Liability statement As on a date.
  • For OD against Member or Deposit surety details will be fetched directly from the respective modules.
  • Recommended Limit calculation based on surety and generation of report for submission to committee.
  • All Overdraft related transactions can be carried out from a single user interface (screen).
  • OD Interest calculation based on daily minimum balance.
  • Interest amount and Interest up to date will be calculated based on Transaction date or on the amount involved in the transaction.
  • Cheque validation during payment transaction. (Cheque Number, Cheque Date, Account Limit)
  • Provision for renewal OD account based on overdraft type attributes and renewal history is maintained.
  • OD account limit can be revised. Interest dues will be calculated based on the limit applicable for the period concerned.
  • Provision for declaring an account as NPA.
  • Details of Bills pending for the account can be retrieved directly.
  • Overdraft transactions shown in a tabular format with the last three transactions immediately visible.
  • Provision for entering other charges.
  • Account holder addresses can be updated from Overdraft module itself, which will be reflected in membership module also.
  • Interest Application Wizard for calculating and applying interest for all accounts of the selected overdraft type for the specified period.
  • Provision for issuing Stop Memo against an account or Stop Payment against a cheque.
  • Provision to Return/ Refer cheque leaves.
  • Overdraft Registers (Opened, Closed, Freezed, Expired).
  • Overdraft Annual Statement, Summarized or Detailed or Rangewise Overdraft As On statement.
  • Cheque Stop memo, Returned and Returned Listing.
  • OD Account Balance Confirmation certificate.