How to Close Fixed Deposit in Corporation Bank

Corporation Bank offers Fixed Deposit offers fixed deposits at many tenures at a very competitive interest rates. There may be a lot of cases where you can close a fixed deposit- either prematurely or close it once the term is over, instead of renewing it.

Steps to Close Corporation Bank Fixed Deposit Account

Step 1: Fill in the account closure form/fixed deposit liquidation form

• The first step to closing your Corporation Bank fixed deposit account, you have to fill up the account closure form.
• You can visit the bank branch, get the form, and submit it with the required documents.
• You should submit this to the branch manager or the officer-in-charge.
• If there are any joint holders, all of them have to sign the account closure form.

Step 2: Attach your KYC documents

• All holders of the fixed account will have to attach copies of your KYC documents.
• These will include a copy of a proof of identity, and proof of address.
• You need to self attest the documents and then submit them.

Step 3: Submit your Fixed Deposit Certificate or the Fixed Deposit Receipt

• When you apply for a fixed deposit, the bank will issue a deposit certificate or receipt. This will show details like your fixed deposit amount, tenure, and rate of interest.
• You have to show the certificate or receipt when you close the fixed deposit.
• This has to be signed by all the account holders. The documents will be verified and you will be asked to withdraw the balance amount.

FAQs on How to Close Corporation Bank Fixed Deposit

1. Is there a minimum amount I need to deposit to open a fixed deposit with Corporation Bank?

   Yes, the minimum amount you have to deposit to open a fixed deposit with Corporation Bank is Rs.500.

2. How do I know I am eligible to open a fixed deposit account in Corporation Bank?

   All HUFs, resident individuals, firms, and NRIs, including minors can open a fixed deposit account with the bank.

3. Can I deposit additional amount in my fixed deposit account?

   No, you cannot deposit additional amount into your fixed deposit account. If you want to invest more amount, you are should open a new fixed deposit account.