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1. Create Fixed deposit product with following datasets,
deposit amount: 100000,
Interest compounding: Monthly,
Interest Posting: Monthly,
Interest calculated using: Daily balance,
No. of days in year: 360
Min deposit term: 1 Month
Max deposit term: 18 months,
Interest calculation chart,
1 to 6 months - 5%,
7 to 12 months - 6%,
13 to 18 months - 7%,
18 to 24 months - 8%
for premature withdrawal add penal interest of 2% less till premature withdrawal,
2. Submit a fixed deposit for a client on 05 April 2014, and amount of 100000, deposit period - 14 months, approve and activate it.
3. Click on premature close button -> in "Premature Closure of Fixed Deposit Account" enter valid date ie 05 June 2014 and click on submit button.
>interest calculated should be of 5% - 2% ie for 3% and amount posted should be 100517.41
> But is is calculating for 7% (whole term) and amount posted is 101209.67
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