FD and RD software that quotes the number you promised
Most finance businesses take money in as well as lending it out. A fixed deposit is a lump sum you hold until maturity; a recurring deposit is a monthly amount collected like any other round. Vasool tracks both beside the loan book — and computes maturity the way you quote it at the counter.
Deposits are not lending in reverse
The money moves the other way, the obligation is yours, and the number everyone remembers is the maturity figure.
Fixed deposits
A one-time deposit, a tenure and a rate. Maturity is computed on enrolment and the subscription carries it through to payout.
Recurring deposits
A monthly amount over a fixed tenure, with every instalment slot created up front so the schedule exists from day one.
Maturity you can override
The computed figure is a starting point. If you already quoted a customer a different number, type it — the subscription keeps yours.
Part payments on a slot
An RD instalment can be collected in pieces. Each payment is its own record with method, reference and who took it; the slot carries the running total.
Maturity, payout and cancellation
A subscription runs active, matures, then pays out with the amount and notes recorded. Cancel early and the reason and refund are stored.
Separate from the loan book
Deposits have their own tables, routes and permission resource, so money you hold is never mixed into money you lent.
How a deposit runs
Enrol the customer
Pick FD or RD, enter the amount, tenure and rate. The maturity figure is calculated as you type, and you can override it.
Collect, for an RD
Monthly slots exist from enrolment. Collect in full or in parts, on the collection day you set.
Reach maturity
The subscription matures on its date, with what is owed already recorded rather than worked out afterwards.
Pay out or cancel
Record the payout amount and notes, or cancel early with the reason and refund kept on the record.
The maturity figure has to match what you already said
A customer agreeing to a recurring deposit is told one thing: what they get at the end. That number gets quoted across a counter, often written on a card, and remembered precisely. Whatever the software does later, it has to produce that figure.
This is the reason our RD maturity is a straightforward monthly compound — the balance takes the month's deposit and then earns a month's interest, repeated for the tenure. It is not the quarterly-compound formula a large bank uses. That formula is not wrong; it simply produces a different number from the one a finance company has already promised, and a system that disagrees with the owner at the counter will lose that argument every time.
Fixed deposits compound annually over the tenure for the same reason. And because no formula survives contact with every agreement, the computed maturity is overridable — type the figure you quoted and the subscription carries yours, not ours.
An RD is a collection round with a different sign
Operationally, a recurring deposit behaves like the weekly and monthly lines your team already runs: a fixed amount, a collection day, instalments that are paid, late or missed, and someone who has to go and ask.
So it is built that way. Every instalment slot is created at enrolment, a slot can take more than one part payment, and each payment records its own method, reference and collector — the same shape used on the loan collection side. What differs is the direction of the money and who owes whom at the end.
Held separately, on purpose
Deposits are modelled as their own thing — separate tables, separate routes, separate permission resource — rather than as another loan type with a minus sign.
That separation is what keeps a report honest. Money a customer has left with you is a liability you will pay back; money you lent is an asset you expect to recover. Summing them produces a number that describes nothing. It is the same reasoning behind keeping rental deposits out of the lending totals.
What deposit software has to get right
Before putting FD or RD subscriptions into any system, check for these:
- A maturity figure you can override when you have already quoted one
- RD instalment slots that exist from enrolment, not created as they are paid
- Part payment against a single instalment, each with its own record
- Late and missed instalments distinguished from pending ones
- Payout recorded with an amount and a note, not just a status flip
- Early cancellation with a reason and a refund figure
- Deposits kept out of lending totals in every report
- Per-product access control, so deposits are not visible to everyone