How to Close Indian Bank Fixed Deposit (FD)
Indian Bank provides a wide range of fixed deposit (FD) schemes. These FDs offer high-interest rates. Indian Bank is a reliable bank in India and the fixed deposits come with benefits like higher returns, flexible tenure, lower minimum deposit limit, and also loan against FD.
If you are looking to close your Indian Bank FD, here is a guide to help you do so:
Close an Indian Bank FD Account
- Step 1: Go to an Indian bank branch and collect the FD Account Closure Form
- Step 2: Enter all details requested in this form. Submit the form to the bank.
- Step 3: You can also submit the Fixed Deposit Liquidation Form to the bank
- Step 4: Make sure to attach the required KYC (Know Your Customer) documents with your application form
- Step 5: Submit these with the FD Certificate/ FD Receipt
FAQs on Closing an Indian Bank FD
- What is the maximum loan I can get against an FD with Indian Bank?
You can get a loan of 90% of your FDs current value.
- Can I close my FD with Indian Bank any time I want?
Yes, you can close your FD with Indian Bank at any time.
- Will I be charged any penalty fee for premature withdrawal of my FD with Indian Bank?
Yes, you will be charged a penalty fee of 1% of the total amount liable for return.
- What is the minimum and maximum period for the Indian Bank FD?
The minimum and maximum deposit period of an Indian bank FD is one and three years, respectively.
- What is the penalty for the pre-mature closure of Indian Bank FD?
For premature closure of Indian Bank FD, the bank charges a penalty of 1.00% of the total liable amount of the depositors FD account.
- Can I close my Indian Bank FD anytime?
Yes, you can close your Indian Bank Fixed Deposit account anytime as per your financial emergencies.
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