SSA Claim Procedure in Finacle
Short Note:
- Mark & verify the depositor CIF as Deceased
- Change Interest rate in Interest Table using HINTTM
- Interest Code SBINT after date of death
- Close Account using HCAAC with Reason Code as DTCLM
Detailed Procedure
In CMRC, for respective CIF, mark Depositor as ‘DECEASED’ and update Date of Death. CIF will be Suspended. Next Verify it in CMRC.
For SSA A/c, from date of death till date of closure, SB rate of interest is allowed and hence Int Table Code: SBINT is to be added through HINTTM menu for such SSA A/c from date subsequent to date of death using Modify Option (Supervisor) and then it must be Verified (Supervisor).
(This entry in HINTTM menu should be in addition to Interest Table Code of SSA scheme, which where Start Date will be A/c opening date and End Date should be marked as Date of Death.)
After making changes in HINTTM, SSA A/c is to be closed in HCAAC menu with Reason Code: DTCLM.
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