Demand Deposits, Time Deposits, and Deposit Products
Chinese source: 活期、定期与存款产品
Locale: en-US
Audience: Internal learning
Key Terms
| Chinese | English | Usage Note |
|---|---|---|
| 活期 | Demand Deposit Account (DDA) | Use checking/savings when the product type is clear. |
| 定期 | Time Deposit / Certificate of Deposit (CD) | CD is natural in U.S. retail banking. |
| 存款产品 | Deposit Product | A rule set, not just a name. |
| 产品工厂 | Product Factory | Configures product behavior. |
Concept
Demand deposits and time deposits are the most basic deposit product forms. Account fields such as balance, rate, term, withdrawal, rollover, and interest posting are all driven by product rules.
Product rules decide how an account opens, how money can be used, and how interest is calculated.Demand Deposit vs. Time Deposit
| Dimension | Demand Deposit | Time Deposit |
|---|---|---|
| Term | Usually no fixed maturity date. | Has value date, term, and maturity date. |
| Liquidity | Usually flexible for withdrawal and transfer. | Withdrawal depends on term and product rules. |
| Rate | Usually lower and follows demand deposit rules. | Usually follows agreed term and rate. |
| Common actions | Deposit, withdrawal, transfer, fee, interest posting. | Opening, withdrawal at maturity, early withdrawal, rollover, interest payment. |
| Key fields | Ledger balance, available balance, interest cycle. | Value date, maturity date, term, rate, rollover method. |
What a Deposit Product Contains
A deposit product is a set of rules: eligible customers, currency, minimum opening amount, incremental amount, partial withdrawal, term, maturity, rate, rate spread, interest accrual, interest posting, payment, rollover, fees, channel limits, account status, and transaction controls.
Product and Sub-account
One customer account may contain multiple sub-accounts, each with a different product. Therefore, account inquiry must reach the sub-account level before you can understand balance, product, rate, maturity, and status.
Operations Console vs. Product Factory
| Example | Product Factory Rule | Operations Result |
|---|---|---|
| Early withdrawal allowed? | Early withdrawal rules. | [1026] Time Deposit Withdrawal eligibility. |
| What happens at maturity? | Rollover rules. | [2087] Maturity Instruction Maintenance and [3210] Rollover History. |
| How is interest calculated? | Rate and interest rules. | [3206] Interest Simulation, [3204] Interest Payment History. |
| Are fees charged? | Fee rules. | [1003] Manual Fee Charge and fee details. |