Deposit management software for investor money

Take deposits from investors, pay them interest, and track what you owe each one. Fixed, Recurring and General deposits, with payouts, maturity reports and closure quotes.

A deposit is the opposite of a loan. The business takes money from an investor and pays interest on it, usually to fund its lending. What matters is knowing exactly how much each investor is owed, how much interest has accrued and when each deposit matures.

The deposit module in 2Dot Loan Manager keeps a register of investors separate from loan customers and supports three kinds of deposit. Interest is simple interest at an annual rate, worked out per day (rate divided by 365), from the day money is received until maturity or withdrawal.

The three kinds of deposit

• Fixed Deposit: One lump sum for a fixed term, with a maturity date.
• Recurring Deposit: A fixed instalment each month. Each instalment earns interest from the day it was paid, so a late one earns less and a missed one earns nothing.
• General Deposit: An open-ended account with no maturity date. The investor can add or withdraw money at any time.

How deposits are handled

• Fixed rate: The rate is fixed when the deposit opens, so later changes to the default rate do not affect it.
• Payouts: Cumulative at maturity, monthly or quarterly. Interest can also be paid in advance for a custom number of days.
• Premature closure: Interest is recalculated at a reduced rate (default penalty 1%), with none below a minimum number of days. Interest already paid is deducted from the principal.
• Cash and UPI: Every payment is split between cash and UPI or bank, and receipts can be printed.
• Audit trail: Every change to the amount, rate or dates needs a reason and is recorded. Only the latest entry on a deposit can be deleted.
• Accounts: Deposits feed the day book, trial balance and bank statement. Interest paid is an expense, and the principal is money owed.

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Frequently asked questions

What is deposit management software?

It records money taken from investors, calculates the interest owed, schedules payouts and tracks maturity and closure.

How is deposit interest calculated?

Simple interest at an annual rate, worked out per day as rate divided by 365, from the day money is received until maturity or withdrawal.

Can it handle FD and RD?

Yes. Fixed Deposits, Recurring Deposits and open-ended General Deposits are all supported.

What reports are available?

Totals received, repaid and interest paid for any period, upcoming maturities and the maturity due report.

Contact 2Dot Solutions in Karaikal