Solution for the RD extension error - "Continuation is not allowed as there are pending installments for this Account " in DOP Finacle

Generally in DOP RD account maturity will complete after 60 completed months i.e., 5 years from the date of opening.

RD accounts in DOP can be extended after date of maturity and before completion of next month i..e., within one month after maturity date.

For example if account is closed on 20/07/2016 then extension is allowed within one month as per POSB rulings i.e., before 20/08/2016.

The menu option for the extension of RD account is PRDCM.

• PRDCM stands for Post Recurrence Deposit Continuation on Maturity.
• Generally RD accounts will be extended up to 60 months but the customer can close anytime during extension period as per POSB rulings.
• System will calculate the interest for completed years as per the table prescribed in POSB manuals.
• As per POSB rulings even if the account is completed 5 years if the account is having loan then the system will not allow extension. For this case we have to inform the customer to clear the loan and proceed for extension of RD account.
• Sometimes when we try to extend the RD accounts in DOP Finacle we will get the error - "Continuation is not allowed as there are pending installments for this Account " in DOP Finacle.

The error screen shot will appear as shown in the below figure

• From the above screen shot it is clear that the system is showing the above said error.

Root Cause for the above problem:-

The main problem arises in DOP Finacle due to one of the following below mentioned reasons.

• If the account is already extended then the system will not allow again.
• If there are any pending installments then the system will not allow to extend the account for further 5 years.

Solution for the above Problem :- 

• If the account is already extended and if the user again tries to extend the same account then the system will not allow it will show the above said error. For clarification users can check the new maturity date by using the menu HTDTRAN. 
• If the maturity date of the account is already completed but if the account is having some pending installments to pay i.e., if 60 installments are not paid then the system will not allow to extend the account for further 5 years.
• To check pending installments for RD we have special menu HPLIST in DOP Finacle enter the account number, remove start date and view the report if there are any pending installments then accept the pending installments and then try for extension of RD account for further 5 years.