What is time deposit agreement in SAP FS-AM-CM - Contract Management?

SAP Term: time deposit agreement

• Component: FS-AM-CM

• Component Name: Contract Management

• Description: The time deposit agreements are differentiated as: New transaction Rollover

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• Key Concepts: 
  A time deposit agreement is a contract between a bank and a customer that allows the customer to deposit funds for a fixed period of time. The customer will receive a higher interest rate than a regular savings account, but will not be able to access the funds until the end of the agreed-upon period. 
  
  How to use it: 
  In SAP FS-AM-CM Contract Management, time deposit agreements can be created and managed. The user can enter the details of the agreement, such as the amount of money to be deposited, the length of the agreement, and the interest rate. The user can also view and manage existing agreements. 
  
  Tips & Tricks: 
  When creating a time deposit agreement in SAP FS-AM-CM Contract Management, it is important to ensure that all details are accurate and up-to-date. This will help ensure that the customer receives the correct interest rate and that all payments are made on time. 
  
  Related Information: 
  For more information on time deposit agreements in SAP FS-AM-CM Contract Management, please refer to the official SAP documentation.