Procedure for interest calculation/posting - Computerised SOs

NOTE

If you intend to transfer interest calculated at the HO for SOs to the respective SOs electronically, then download and execute Int_Seq.exe at both the SO and HO, before calculation of interest at HO. This will enable generation of interest file with sequence number 1 at HO and will enable its subsequent import / posting at SO.  

Download

Step 1

The preparatory procedure for calculation/posting of interest is elaborated in previous page. The same steps should be carried out for the all the SOs under the HO.    

At HO 

Calculate and post interest in the SOSB module for all the SOs. 

When day-end is performed in the HO online module, a message will be displayed intimating the creation of interest files on the day on which interest is calculated for SOs. Click on ‘OK’ and continue with day end.  Files are generated in the C:\HO_to_SO folder in the system in which day-end was performed.  

Files will be generated:

   a) only for SOs in which interest posting was performed on that day

   b) only for SOs and MDGs marked as computerised.  

These files can be sent to the respective SOs for importing the interest and subsequently used for posting the interest calculated.   

At SO

• Login as 'Counter' >> select group 'Day Begin/end' >> 'Import files from HO' >> 'SB interest Posting' and select the file to be uploaded. 

• To Post the interest login as 'SUPER' >> SB >> 'Annual interest calculation' >> 'Calculate Interest' >> 'Annual Interest Posting'  

   

NOTE

• Service charges will be deducted automatically while calculation and posting of interest in SB accounts.

  

• Service charges will be deducted in silent accounts if the balance is less than 50 after calculation and posting of interest.  

• The report for accounts from which service charges have been deducted can be obtained from DBanalyzer >> Reports or from Sanchay Post-Online Module >> Reports >> SB >> 'SILENT ACCOUNT with service charge deduction'   

IMPORTANT NOTE

Can Interest Calculation be done after 1st of April?

Interest calculation for PPF can be done on any day after completion of transactions on the 31st of March and for other schemes it can be performed on any day after day begin has been performed for the 1st of April. Interest is posted (inserted) in the ledger with transaction date as per rules.