Canara Bank offers fixed deposit accounts with tenures ranging from a minimum of 7 days to a maximum of 10 years. The fixed deposits can be withdrawn on maturity or closed prematurely as well.
You can close your Canara Bank FD account by visiting the branch office.
You can close your Canara Bank FD account when it matures by visiting your local branch office. You will have to submit the fixed deposit certificate with your signature and if it is jointly held, with the signatures of all the joint depositors. You may also need to submit an application form to close the FD account following which the total amount on maturity 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 automatically on the date of maturity.
Here is what you need to do to close your Canara Bank FD prematurely:
Yes, there is a penalty of 1% for premature withdrawal of domestic term deposits lesser than Rs.2 crore.
Yes, you can partially withdraw from your Canara Bank fixed deposit account in units of Rs.1,000.
Yes, the contracted rate of interest will be applicable for the remaining period of the tenure for the remaining amount in the fixed deposit account.
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