• How to Close IDBI Bank Fixed Deposit

    IDBI Bank offers fixed deposit accounts with tenures ranging from a minimum of 7 days to a maximum of 20 years at attractive rates of interest. The fixed deposits can be withdrawn on maturity or closed prematurely.

    Ways to close IDBI Bank FD Account

    You can close your IDBI Bank fixed deposit account by visiting the bank’s local branch office.

    Closing IDBI Bank FD Account on Maturity

    You can close your IDBI Bank FD account on maturity at the local branch office. You will have to submit the fixed deposit certificate. If the fixed deposit is jointly held, it should have the signatures of all the joint depositors. Along with this, you will need to submit an application form to close the FD account. After this, the total proceeds from the FD account will be transferred to your savings account. If the auto-liquidation feature is available, this will be done automatically on the date of maturity of your FD.

    Closing IDBI Bank FD Before Maturity (Premature Closure)

    To close your IDBI Bank FD prematurely, follow the steps given below:

    • Step 1: Visit the IDBI Bank branch
    • Step 2: Obtain an application form for premature withdrawal
    • Step 3: Fill up the form with the required details
    • Step 4: 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 IDBI Bank FD account?

      Yes, there is a penalty on premature withdrawal.

    2. Is overdraft facility available against IDBI Bank FD?

      Yes, overdraft facility is available against IDBI Bank FD.

    3. Is there an auto-renewal facility for IDBI Bank FDs?

      Yes, auto-renewal facility is available for IDBI Bank FDs.

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