Instructions on RD Extension...
RD accounts having defaulted installments (less than 6) on the date of maturity get deferred automatically by EOD batch job.
Ex:- RD account maturing on 02/07/2020, with three defaults will get maturity date updated as 02/10/2020.
Such accounts cannot be extended till the new date of maturity or one month prior to new date of maturity, even if all the 60 installments are paid before date of maturity.
Closure of such accounts may have issues, if closed before new date of maturity or may be treated as normal closure without any PMI (if closed within a month from new date of maturity).
Error as shown below is thrown when SOLs try to extend such deferred accounts.
Error! Filename not specified.
some of the SOLs have again deferred such accounts and this causes unwarranted postponement of maturity date.
In order to avoid issues during closure, SOL users are to be advised strictly:
1) To check HTDTRAN for knowing the maturity date of an account and compare with passbook.
2) Not to defer maturity date for an account which is already deferred by EOD batch.
3) Not to close any RD accounts having default, without checking the maturity date in HTDTRAN, unless premature closure is requested by the customer.
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