- 15 Aug 2020
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Setting-up a Maturity Period
- Updated On 15 Aug 2020
- 1 Minute To Read
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The Maturity Period in a Savings Plan or Fixed deposit account is a time when no withdrawals can be made. It is manually activated after the first deposit, with only administrators and users with permission able to withdraw. To activate, open the account, click on Begin Maturity Period, enter the maturity date, and click on Change Status.
The Maturity Period is the time during which no withdrawals can be made in a Savings Plan or Fixed deposit account. The duration of the period can be defined in the product's settings and is then manually activated under each account after a first deposit has been made.
Only administrators and users with the Make early withdrawal permission can make withdrawals during a maturity period.
To activate the maturity period:
- Open the deposit account.
- On the right hand of the screen, click on Begin Maturity Period.
- Enter the maturity date.
- Click on Change Status.