SBI, HDFC Bank FDs: How to close fixed deposit online

economictimes.indiatimes.com:

premature withdrawal, the bank may charge a penalty if withdrawn before a set period.

In general, banks handle matured fixed deposits in one of the following two ways: Depending on the tenure chosen by the holder, the FD is automatically renewed for the initial term or for a year. The principle and interest are automatically liquidated and transferred to the account of the holder. Let's look at how to close an FD, both on maturity and prematurely, whether it was opened online or offline by visiting a bank branch.FD closure on maturity

FD premature withdrawal charges: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Yes Bank

All maturity proceeds along with the initial investment will be transferred into your account upon the successful closure of the fixed deposit account. You can give the bank standing instructions on what to do when your FD matures when you open it. It will be much simpler for you to close the FD account on maturity if you opened it online through internet banking when you first opened the account. All you have to do is go to the fixed deposits section of your net banking account. You can examine your investment's status and choose to close or liquidate it there.Premature FD closure Banks typically provide their clients the option to close their fixed deposits well in advance of the scheduled maturity date. As a result of the shorter tenure, you might not get the full interest on your investment and be subject to a fine. In other words, the interest will only be paid during the time that your deposit was held at the bank. The money will be sent to your account normally after you close the FD. Whatever the cause, if you must close your FD before the date