Procedure to break Fixed Deposit:
Submit fixed deposit advice (or certificate, receipt) duly signed by all account holders, at the branch for premature liquidation.
Or Submit the Fixed Deposit Liquidation form.
Or Apply for online withdrawal, if bank has the option to break FD online – through Net Banking.
Can we withdraw money from fixed deposit before maturity?
However, in case of an lock in FD, a bank may refuse a premature withdrawal as per RBI guidelines. Let us have a look at premature penalty. Usually banks charge a penalty of 0.5% to 1% lower interest on FDs which are closed before maturity. This penalty may be waived off by some banks if it is an emergency.
How can I break my HDFC FD online?
Breaking or liquidating fixed deposit is easy. Simply login to your net banking account. Go to account > transact > liquidate fixed deposit and there you will see the list of FDs, you have booked. Next, it will give an overview of the penalty charges and interest rate you will get if you break your current FD.
How can I break my fixed deposit?
Withdrawing an FD before maturity is known as breaking an FD. When you break the FD, you get a lower rate of interest and also pay a penalty for the premature withdrawal. Say, you opened a 1 year FD at 7.5%. If you decide to break an FD at 10 months, the interest earned on the FD will reduce by 1%.
Can SBI FD be broken online?
SBI has an easy way for you! The bank recently posted a video on Twitter to educate its users about closing an FD online. This applies specifically for ETDR/STDR only ie. E-term deposits and special term deposits, in banking parlance.