How to Close ICICI Fixed Deposit
ICICI Bank has fixed deposit accounts with attractive interest rates and flexible repayment tenures that range from 7 days to 10 years.
Opening or closing an FD account with ICICI Bank is easy and hassle-free.
Ways to close an ICICI FD Account
You can close your ICICI FD account in three ways:
- Online on the official website of ICICI
- On the ICICI mobile application
- Offline at the ICICI branch where the FD account was opened
Closing an ICICI FD Account on Maturity
If you had selected the auto closure facility for your FD account, it will be automatically closed on maturity. The amount on closure will then be credited to your linked savings account.
If you had selected the auto renewal feature, you can close your FD account on maturity through the following channels:
- Internet banking
- ICICI mobile application
- ICICI Bank branch
- For amounts less than Rs.50,000, visit the ATM
Internet Banking
Step 1: Log in to your net banking account on the ICICI Bank net banking portal
Step 2: Select ‘My Accounts’ from the bar menu
Step 3: Select ‘'Deposits’'
Step 4: Select ‘'Service Requests’'
Step 5: Click on ‘'Close or Renew Fixed/Recurring Deposit’'
Step 6: Fill the online form that will be displayed on the next page
Step 7: Provide the savings A/c number in which FD amount will be credited
Step 8: Select ‘'Closing on Maturity’'
Step 9: Select your FD account number
Step 10: Enter your registered mobile number of your registered email address or both
Step 11: Click on ‘'Submit’'
Step 12: Verify the details on the Request Confirmation page
Step 13: Enter your One Time Password (OTP) sent to the registered mobile number
Step 14: Click on ‘'Submit’'
The confirmation message will be displayed on the screen and your linked savings account will be credited with the FD amount.
Mobile Application
To close your FD account through the ICICI iMobile application, follow the steps given below:
Step 1: Log in to iMobile
Step 2: Select the icon for ‘Accounts & Deposits'
Step 3: Select ‘Deposits’
Step 4: Select your FD account number
Step 5: Select 'More Options’
Step 6: Select 'Close FD’
Your FD account will be closed instantly and the funds will be transferred automatically to your linked savings account.
Offline Method
To close your ICICI FD account offline, visit your nearest ICICI bank branch with your valid ID proof. Once you obtain the required documents at the branch and fill them up with the relevant details, your FD account will be closed and the amount credited to your linked savings account.
Closing an ICICI FD Before Maturity (Premature Closure)
You can close your ICICI FD account before maturity through the following channels:
- Internet banking
- ICICI mobile application
- ICICI Bank branch
Internet Banking
To close your FD account before maturity, follow the steps given below to close it online:
Step 1: Visit the official ICICI net banking portal
Step 2: Log into your internet banking account using your net banking credentials
Step 3: Click on ‘'Customer Service’'
Step 4: Click on ‘'Service Request’'
Step 5: Under the ‘'Category’' click on ‘'Deposits'’
Step 6: Click on ‘'Closure/Renewal of Existing Fixed/Recurring Deposits’'
Your FD account will be closed instantly and the funds will now be transferred to your linked savings account.
Mobile Application
To close your FD account prematurely through the ICICI iMobile application, follow the steps given below:
Step 1: Log in to iMobile
Step 2: Select the icon for ‘'Accounts & Deposits’'
Step 3: Select ‘'Deposits’'
Step 4: Select your FD account number
Step 5: Select ‘'More Options’'
Step 6: Select ‘'Close FD’'
Your FD account will be closed instantly and the funds will be transferred automatically to your linked savings account.
Offline Method
To close your ICICI FD account offline, visit your nearest ICICI bank branch with your valid ID proof. Once you obtain the required documents at the branch and fill them up with the relevant details, your FD account will be closed and the amount credited to your linked savings account.
FAQs on How to Close ICICI FD
- Can I withdraw just a portion of my ICICI FD prematurely?
Yes, you can make a partial withdrawal from your ICICI FD account.
- If the FD is a joint account, do I need signatures of all the depositors to prematurely close it?
Yes, you need the signatures of all the depositors to close a joint FD account prematurely.
- Is there any penalty for premature withdrawal of ICICI FD account within a week of opening it?
No, there is no premature withdrawal penalty applicable on an ICICI FD account if it is closed within a week of opening.
- Is there a difference in the penalty for senior citizens?
Yes, there may be a difference in the premature withdrawal penalty for senior citizens and hence, it is always recommendable to check the specific terms while opening the FD.
- Can I break my Tax-saving FD with ICICI Bank?
No, you cannot break your Tax-saving FDs with ICICI Bank prematurely as they come with a lock-in period of five years.
- Can I break a joint FD online?
Yes, joint FD can be broken online if the joint FD is operated with 'Either or Survivor' mode but you might need to visit the branch for' Joint' operation mode.
- Can I withdraw prematurely if my FD has a lock-in period?
No, you cannot withdraw your FD prematurely if your FD has a lock-in period.
- Should NRIs who return back to India close their NRE, NRO FD?
Yes, NRIs can close their FD accounts if they come back to India and lose the status of NRI.
- Can I withdraw a certain portion of the ICICI FD account prematurely?
Yes, premature partial withdrawal is allowed for ICICI Bank customers offered under the scheme of ICICI Bank FDs.
- Can I close my FD online if it was opened offline?
Yes, you can close your FD online if it was opened offline, but you must make sure that the FD reflects in your net banking account. In case the closure of FD account does not reflect, you need to contact the branch so that in the future you can close it through online mode.
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