HDFC Bank has fixed deposit accounts with attractive interest rates and flexible repayment tenures that range from 7 days to 10 years. You have the option of closing your HDFC account once it matures or close it prematurely before it reaches full maturity.
You can close your HDFC FD account in two ways:
You can close your HDFC FD account on maturity by visiting the branch where you opened the account. You will need to submit your fully discharged fixed deposit receipt one week before maturity in order to initiate the process. If the maturity date falls on a bank holiday, then the deposit amount will be paid the next working day. The deposit amount will be credited either directly into the bank account through RTGS/NEFT or through an account payee cheque drawn on the first depositor.
To close your FD account before maturity, follow the steps given below if you had opened the account online:
Step 1: Visit the official HDFC net banking portal
Step 2: Log into your account using your net banking credentials
Step 3: Click on the ‘'fixed deposit’' menu on the left-hand side of the page
Step 4: Select the option ‘'Liquidate Fixed Deposit’'
Step 5: From the drop-down list, select the FD account that you wish to close
Step 6: Click on ‘Continue’
Step 7: Confirm the details entered and submit
The FD amount will be credited into your savings account.
If you have opened your HDFC FD account directly at the bank, you will have to visit the bank’s office to close your account prematurely.
Step 1: Visit the HDFC 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
Yes, there is a premature withdrawal penalty for HDFC FD accounts. This is 1% on the applicable rate.
Yes, you can make a partial withdrawal of your HDFC FD account.
If you are prematurely closing your HDFC account after 3 months of opening it, the rate of interest is the same as when it was opened. If it is closed after 3 months but within 6 months of opening, the interest rate is 3.00% p.a. If it is closed after 6 months but before the maturity date, the interest rate will be 1.00% lower.
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