• How to Close RBL Bank Fixed Deposit

    Opening a Fixed Deposit account can be a very good option if you are looking to invest your savings and maximize them. You can invest in an FD account for a certain period of time till your savings attain maturity. You then have the option of either withdrawing the money or continue investing. If you choose to withdraw the money, you will then have to close your FD account.

    The ways to close your FD account

    You can close your FD account either online or offline.

    Ways to close your FD account online on maturity

    Through official website

    • Visit the official website of RBL.
    • Close RBL Bank FD Account
    • Log in to the portal using your username and password.
    • Under ‘FD/RD’ section on the portal, choose the account you wish to close by selecting ‘Break FD’.
    • Choose the account to which the maturity amount needs to be sent. Follow the instructions as given and you will be able to close your FD account.

    Through RBL mobile app

    • Download the RBL mobile app on your smart phone.
    • Log in to the app.
    • Under ‘FD/RD’ click on ‘close FD’.
    • Type in your MPIN and click on ‘Select’. The money will then be sent to the bank account provided by you at the inception of the FD account.

    Through offline channel

    You can visit the nearest RBL branch where you will have to fill an account closure form and submit it along with all the relevant KYC documents. You will also have to return your cheque book and other documents which came with it. You can then either withdraw the amount in cash, get a cheque or dd issued in your name, or simply get the amount transferred to another bank account.

    Ways to close your FD account before maturity

    Through official website

    • Visit the official website of RBL.
    • Log in to the portal using your username and password.
    • Under ‘FD/RD’ section on the portal, choose the account you wish to close by selecting ‘Break FD’.
    • Choose the account to which the maturity amount needs to be sent. The bank may charge a pre-closure amount since you would be closing your FD account on a premature basis. Once you have paid the amount, follow the instructions given further following which the amount will be sent to your bank account.

    Through RBL mobile app

    • Download the RBL mobile app on your smart phone.
    • Log in to the app.
    • Under ‘FD/RD’ click on ‘close FD’.
    • Type in your MPIN and click on ‘Select’. You may, however, have to pay a pre-closure fee as a penalty for closing your FD account prematurely. Once that is done, the final maturity amount will be sent to your bank account.

    Offline

    You will have to visit the nearest RBL branch and submit an account closure form along with all the necessary documents. The bank before transferring the amount in your FD account to your bank account may charge a pre-closure amount as penalty since you will be closing your account before it attains maturity. Pay the charge, and the final maturity amount will be sent to your bank account.

    FAQs

    1. What is the interest rate I will earn on my deposits?

      Based on your tenure, you may earn interest ranging between 3.25% - 6.50%. p.a.

    2. Will senior citizens earn extra interest on their deposits?

      Yes, senior citizens will earn 0.5% extra interest on their deposits.

    3. I am an NRI. Can I open an FD account at RBL?

      Yes, as an NRI you can open an FD account at RBL.

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