Savings societies, cooperative societies and micro-finance companies collect deposits from members: a fixed sum every week or month in a recurring deposit, or a lump sum for a term of a year or more in a fixed deposit, paid back with the agreed return at maturity. Agents collect the deposits and are paid a commission on what they collect, often with a share for the agent who introduced them. The RD FD software is the module of Daani's MLM software built for this: deposit schemes instead of products, collections instead of orders, maturity calculations and agent commissions on the same base that runs network marketing companies in the USA, Canada, Europe, Australia and other countries. This page explains what the software manages, how the agent network is paid, how a deposit runs from the first instalment to maturity, who uses it and what it costs.
A recurring deposit (RD) is a scheme in which the depositor pays a fixed amount at a fixed interval, weekly, monthly or yearly, for an agreed term, and receives the total with the agreed return at the end. A fixed deposit (FD) is a single amount deposited for an agreed term and paid back with its return at maturity. A company defines each scheme once in the software, with its amount or amount range, interval, term, return and the rules for late instalments, early closure and renewal; depositors are then enrolled in a scheme and the software knows what each one owes, has paid and will receive.
Agents are members in a hierarchy: the agent who collects earns a commission on the collection, and the agent or branch manager who introduced them earns an override on their collections, for a set number of levels, which a unilevel or generation plan carries. Because commissions are paid on money collected, not on a margin, the plan is run through the MLM calculator against the scheme's return so that the company knows what every deposit costs it in commission before it is offered. The genealogy shows the agent hierarchy and each agent's depositors and arrears.
Cooperative and savings societies that collect from their members through agents; micro-finance companies with a field force; and financial-services networks that sell insurance or investment plans next to deposits and want one back office for all of them. The deposit module runs alongside the product catalogue and the plans, so a company can start with deposits and add products later or the other way round.
The ready-made module covers the schemes, collections, maturity and commission logic described here and is configured, not programmed, for a new company. Customised development is for a company whose schemes, statements or regulatory reports need a format of their own, or that wants the deposit module inside software built around its own process; the custom MLM software page describes how that is done.
The ready-made 4G package with the basic features costs $50 to $150 USD per month; the 5G and 6G packages, which include the RD FD module and the other modules a deposit company needs, go up to $800 per month; hosting on the Daani server, updates and support for as long as you are our client are included. Customised software is a one-time payment, 3,000 for the 5G package and 6,999 for the 6G, with discount offers of up to 70% from time to time. See the pricing page.
Can a depositor see their own account? Yes. Each depositor has a login with the statement, the next due date and the maturity date; agents see their depositors' accounts and arrears.
Can collections in cash be recorded in the field? Yes. The agent records the collection in the mobile app or the back office and the depositor receives the receipt; the day's cash is reconciled per agent.
Does the software decide the return or the rules? No. You define the schemes and the compliance settings; the software calculates and enforces what you define.
How do I see it? Request the free demo of the RD FD software and send us one or two of your schemes; the demo is set up with them and with an agent's login.
