• How to Close Andhra Bank FD

    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 The fixed deposits can be withdrawn prematurely or closed on maturity.

    Ways to close Andhra Bank FD Account

    You can close your Andhra Bank FD account by visiting the branch office.

    Closing Andhra Bank FD Account on Maturity

    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.

    Close Andhra Bank FD Account

    Closing Andhra Bank FD Before Maturity (Premature Closure)

    Here is what you need to do to close your Andhra Bank FD prematurely:

    • Step 1: Visit the Andhra 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

    FAQs

    1. Is there any penalty for premature withdrawal of Andhra Bank FD account?

      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.

    2. Can I withdraw just a portion of my Andhra Bank FD prematurely?

      Yes, you can make a partial withdrawal of your FD account.

    3. If I make a partial withdrawal from my FD account, will I get the same rate of interest on the remaining 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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