Introduction to Certificate of Interest Paid

In general, the customers would like to know the details of interest paid by them for the loans and overdrafts held with their banks and also the interest received for deposit products from the bank, for various purposes. The functionality enables the generation of the certificate of interest paid by the customer to the bank for loans and overdrafts and also the generation of certificate of interest received from the bank to the customers for the time and demand deposits for a period.

This functionality enables the generation of certificate of interest paid by the customer to the bank for loans and overdrafts and also the generation of certificate of interest received from the bank to the customers for time and demand deposits for a period.

The debit interest (for loans and overdrafts) certificate will be automatically generated for product every fiscal year. Additionally, the debit interest and credit interest certificate can be generated on an ad hoc basis when the customer requests so. The ad hoc generation applies to the existing and closed products.