diff --git a/mifosng-db/0001a-mifos-platform-base-ddl-schema.sql b/mifosng-db/0001a-mifos-platform-base-ddl-schema.sql
index 1a44b22aa..60f397fcd 100644
--- a/mifosng-db/0001a-mifos-platform-base-ddl-schema.sql
+++ b/mifosng-db/0001a-mifos-platform-base-ddl-schema.sql
@@ -17,6 +17,7 @@ DROP TABLE IF EXISTS `portfolio_client`;
 DROP TABLE IF EXISTS `portfolio_group`;
 DROP TABLE IF EXISTS `portfolio_product_loan`;
 DROP TABLE IF EXISTS `portfolio_product_savings`;
+DROP TABLE IF EXISTS `portfolio_product_deposit`;
 -- organisation related tables
 DROP TABLE IF EXISTS `org_organisation_currency`;
 DROP TABLE IF EXISTS `org_fund`;
@@ -287,19 +288,11 @@ CREATE TABLE `portfolio_product_savings` (
   `id` bigint(20) NOT NULL AUTO_INCREMENT,
   `name` varchar(100) NOT NULL,
   `description` varchar(500) DEFAULT NULL,
-  `savings_type_enum` smallint(5) NOT NULL,
   `currency_code` varchar(3) DEFAULT NULL,
   `currency_digits` smallint(5) DEFAULT NULL,
   `interest_rate` decimal(19,6) DEFAULT NULL,
   `minimum_balance` decimal(19,6) DEFAULT NULL,
   `maximum_balance` decimal(19,6) DEFAULT NULL,
-  `ft_tenure_months` int(11) DEFAULT NULL,
-  `ft_maturity_default_interest_rate` decimal(19,6) DEFAULT NULL,
-  `ft_maturity_min_interest_rate` decimal(19,6) DEFAULT NULL,
-  `ft_maturity_max_interest_rate` decimal(19,6) DEFAULT NULL,
-  `ft_can_renew` tinyint(1) DEFAULT NULL,
-  `ft_can_pre_close` tinyint(1) DEFAULT NULL,
-  `ft_pre_closure_interest_rate` decimal(19,6) DEFAULT NULL,
   `is_deleted` tinyint(1) NOT NULL DEFAULT '0',
   `createdby_id` bigint(20) DEFAULT NULL,
   `created_date` datetime DEFAULT NULL,
@@ -312,6 +305,33 @@ CREATE TABLE `portfolio_product_savings` (
   CONSTRAINT `FKJPW0000000000004` FOREIGN KEY (`lastmodifiedby_id`) REFERENCES `admin_appuser` (`id`)
 ) ENGINE=InnoDB DEFAULT CHARSET=utf8;
 
+CREATE TABLE `portfolio_product_deposit` (
+  `id` bigint(20) NOT NULL AUTO_INCREMENT,
+  `name` varchar(100) NOT NULL,
+  `description` varchar(500) DEFAULT NULL,
+  `currency_code` varchar(3) DEFAULT NULL,
+  `currency_digits` smallint(5) DEFAULT NULL,
+  `minimum_balance` decimal(19,6) DEFAULT NULL,
+  `maximum_balance` decimal(19,6) DEFAULT NULL,
+  `tenure_months` int(11) DEFAULT NULL,
+  `maturity_default_interest_rate` decimal(19,6) DEFAULT NULL,
+  `maturity_min_interest_rate` decimal(19,6) DEFAULT NULL,
+  `maturity_max_interest_rate` decimal(19,6) DEFAULT NULL,
+  `can_renew` tinyint(1) DEFAULT NULL,
+  `can_pre_close` tinyint(1) DEFAULT NULL,
+  `pre_closure_interest_rate` decimal(19,6) DEFAULT NULL,
+  `is_deleted` tinyint(1) NOT NULL DEFAULT '0',
+  `createdby_id` bigint(20) DEFAULT NULL,
+  `created_date` datetime DEFAULT NULL,
+  `lastmodified_date` datetime DEFAULT NULL,
+  `lastmodifiedby_id` bigint(20) DEFAULT NULL,
+  PRIMARY KEY (`id`),
+  KEY `FKJPW0000000000003` (`createdby_id`),
+  KEY `FKJPW0000000000004` (`lastmodifiedby_id`),
+  CONSTRAINT `FKJPX0000000000003` FOREIGN KEY (`createdby_id`) REFERENCES `admin_appuser` (`id`),
+  CONSTRAINT `FKJPX0000000000004` FOREIGN KEY (`lastmodifiedby_id`) REFERENCES `admin_appuser` (`id`)
+) ENGINE=InnoDB DEFAULT CHARSET=utf8;
+
 CREATE TABLE `portfolio_loan` (
   `id` bigint(20) NOT NULL AUTO_INCREMENT,
   `external_id` varchar(100) DEFAULT NULL,
diff --git a/mifosng-db/patches/patch-01-new-deposit-product-table.sql b/mifosng-db/patches/patch-01-new-deposit-product-table.sql
new file mode 100644
index 000000000..7c7b577ca
--- /dev/null
+++ b/mifosng-db/patches/patch-01-new-deposit-product-table.sql
@@ -0,0 +1,37 @@
+ALTER TABLE `portfolio_product_savings` 
+DROP COLUMN `ft_pre_closure_interest_rate` , 
+DROP COLUMN `ft_can_preclose` , 
+DROP COLUMN `ft_can_renew` , 
+DROP COLUMN `ft_maturity_max_interest_rate` , 
+DROP COLUMN `ft_maturity_min_interest_rate` , 
+DROP COLUMN `ft_maturity_default_interest_rate` , 
+DROP COLUMN `ft_tenure_months` , 
+DROP COLUMN `savings_type_enum` ;
+
+
+CREATE TABLE `portfolio_product_deposit` (
+  `id` bigint(20) NOT NULL AUTO_INCREMENT,
+  `name` varchar(100) NOT NULL,
+  `description` varchar(500) DEFAULT NULL,
+  `currency_code` varchar(3) DEFAULT NULL,
+  `currency_digits` smallint(5) DEFAULT NULL,
+  `minimum_balance` decimal(19,6) DEFAULT NULL,
+  `maximum_balance` decimal(19,6) DEFAULT NULL,
+  `tenure_months` int(11) DEFAULT NULL,
+  `maturity_default_interest_rate` decimal(19,6) DEFAULT NULL,
+  `maturity_min_interest_rate` decimal(19,6) DEFAULT NULL,
+  `maturity_max_interest_rate` decimal(19,6) DEFAULT NULL,
+  `can_renew` tinyint(1) DEFAULT NULL,
+  `can_pre_close` tinyint(1) DEFAULT NULL,
+  `pre_closure_interest_rate` decimal(19,6) DEFAULT NULL,
+  `is_deleted` tinyint(1) NOT NULL DEFAULT '0',
+  `createdby_id` bigint(20) DEFAULT NULL,
+  `created_date` datetime DEFAULT NULL,
+  `lastmodified_date` datetime DEFAULT NULL,
+  `lastmodifiedby_id` bigint(20) DEFAULT NULL,
+  PRIMARY KEY (`id`),
+  KEY `FKJPW0000000000003` (`createdby_id`),
+  KEY `FKJPW0000000000004` (`lastmodifiedby_id`),
+  CONSTRAINT `FKJPX0000000000003` FOREIGN KEY (`createdby_id`) REFERENCES `admin_appuser` (`id`),
+  CONSTRAINT `FKJPX0000000000004` FOREIGN KEY (`lastmodifiedby_id`) REFERENCES `admin_appuser` (`id`)
+) ENGINE=InnoDB DEFAULT CHARSET=utf8;