How to Close HDFC Fixed Deposit
HDFC Bank has fixed deposit accounts with attractive interest rates and flexible repayment tenures that range from 7 days to 10 years. You have the option of closing your HDFC account once it matures or close it prematurely before it reaches full maturity.
Ways to Close an HDFC FD Account
You can close your HDFC FD account in two ways:
- Online on the official website of HDFC
- Offline at the HDFC branch where the FD account was opened
Closing an HDFC FD Account on Maturity
You can close your HDFC FD account on maturity by visiting the branch where you opened the account. You will need to submit your fully discharged fixed deposit receipt one week before maturity in order to initiate the process. If the maturity date falls on a bank holiday, then the deposit amount will be paid the next working day. The deposit amount will be credited either directly into the bank account through RTGS/NEFT or through an account payee cheque drawn on the first depositor.
Closing an HDFC FD Before Maturity (Premature Closure)
To close your FD account before maturity, follow the steps given below if you had opened the account online:
Step 1: Visit the official HDFC net banking portal
Step 2: Log into your account using your net banking credentials
Step 3: Click on the ''fixed deposit'' menu on the left-hand side of the page
Step 4: Select the option ''Liquidate Fixed Deposit''
Step 5: From the drop-down list, select the FD account that you wish to close
Step 6: Click on 'Continue'
Step 7: Confirm the details entered and submit
The FD amount will be credited into your savings account.
Offline:
If you have opened your HDFC FD account directly at the bank, you will have to visit the bank's office to close your account prematurely.
Step 1: Visit the HDFC bank branch and obtain a premature withdrawal application form
Step 2: Fill up the form with the required details such as your bank account details, FD number, name, etc.
Step 3: Submit the form
The funds will be credited into your savings account once the request is processed
How to Close Other Banks' FD
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FAQs on How to Close HDFC FD
- Can I withdraw just a portion of my HDFC FD prematurely?
Yes, you can make a partial withdrawal of your HDFC FD account.
- Is there any penalty for premature withdrawal of HDFC FD account?
Yes, there is a premature withdrawal penalty for HDFC FD accounts. This is 1% on the applicable rate.
- If I do a premature closure of my FD account, what will be the interest payable?
If you are prematurely closing your HDFC account after 3 months of opening it, the rate of interest is the same as when it was opened. If it is closed after 3 months but within 6 months of opening, the interest rate is 3.00% p.a. If it is closed after 6 months but before the maturity date, the interest rate will be 1.00% lower.
- Will I get a confirmation once the HDFC FD has been closed?
Yes, you will get a confirmation via email once the HDFC FD has been closed.
- Will interest be received in case the HDFC FD has been closed before maturity?
Yes, interest may be received in case the HDFC FD has been closed before maturity.
- Whom should I contact in case I’m unable to close the FD account online?
You can contact HDFC customer care or visit the nearest bank branch in case you are unable to close the FD account online.
- Is it possible to close a joint HDFC FD account online?
Yes, you can close a joint HDFC FD account online.
- How long will it take for me to receive the funds once the HDFC FD account is closed?
You will receive the funds immediately once the HDFC FD account is closed.
- Will HDFC Bank levy a penalty in case the FD account is closed before maturity?
Yes, HDFC Bank may levy a penalty if the FD account is closed before maturity.
- Is it possible to close an HDFC FD account via the mobile app?
Yes, you can close the HDFC FD account via the mobile app.
- What details will need to be provided if I close the FD account at an HDFC Bank branch?
You will need to provide account details, proof of identity, and the FD receipt to close the FD account at an HDFC Bank branch.
- Can I close the HDFC FD account before it matures?
Yes, the HDFC FD account can be closed before it matures.
- Is it possible to close an FD account with HDFC Bank online?
Yes, it is possible to close an FD account with HDFC Bank online.
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