Andhra Bank offers fixed deposit accounts with flexible tenures ranging from a minimum of 7 days to a maximum of 10 years. The fixed deposits can be withdrawn prematurely or closed on maturity.
You can close your Andhra Bank FD account by visiting the branch office.
You can close your Andhra Bank FD account on maturity by visiting your nearest branch. You will need to submit your fixed deposit certificate for this. If the fixed deposit is jointly held, ensure that the signatures of all the joint depositors are on the certificate. You may also need to submit an application form along with this to close the FD account on maturity. After the process is complete, the proceeds will be transferred to your savings account.
If the auto-liquidation feature is available, the proceeds from the matured FD account will be credited to your linked bank account on the date of maturity.
Here is what you need to do to close your Andhra Bank FD prematurely:
The funds will be credited into your savings account once the request is processed
Yes, there is a premature withdrawal penalty for Andhra Bank FD accounts if it is closed before 7 days. For fixed deposit account closed after the minimum of 7 days, there is no penalty for premature withdrawal.
Yes, you can make a partial withdrawal of your FD account.
Yes, the applicable rate of interest for the remaining period of the tenure will be applied for the balance amount in your fixed deposit account.
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