This module will not be further enhanced. Support is limited to defect fixing only.

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. As a part of IEMB, 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.

The debit interest certificate for loans and overdrafts is automatically generated for each contract during the financial year, on an annual frequency. Additionally, debit and credit interest certificate can be generated on an ad hoc basis when the customer requests accordingly. The ad hoc generation applies to existing and closed products.