• How to Close Vijaya Bank FD

    Vijaya Bank (now merged with Bank of Baroda) offers fixed deposit accounts with tenures ranging from a minimum of 7 days to a maximum of 10 years. The fixed deposits can be withdrawn on maturity or closed prematurely as well.

    Ways to close Vijaya Bank FD Account

    You can close your Vijaya Bank FD account by visiting the branch office where you opened your fixed deposit account.

    Closing Vijaya Bank FD Account on Maturity

    To close your Vijaya Bank FD account on maturity, follow the steps given below:

    • Step 1: Visiting your local branch office where the FD account was opened
    • Step 2: Submit the fixed deposit certificate with your signature. If the deposit was jointly held, make sure it has the signatures of all the joint depositors.
    • Step 3: Submit an application form to close the FD account
    • Step 4: Submit your KYC documents

    The total amount on maturity will be transferred to your savings account.

    If the auto-liquidation feature is available, the FD amount will be credited to your linked bank account automatically on the date of maturity.

    Closing Vijaya Bank FD Before Maturity (Premature Closure)

    Here is what you need to do to close your Vijaya Bank FD prematurely:

    • Step 1: Visit the Vijaya Bank branch where you opened your FD account
    • Step 2: Obtain a premature withdrawal application form
    • Step 3: Fill up the form with the required details such as your FD account number, bank account details, name, etc.
    • Step 4: Submit the form

    The funds will be credited into your savings account once the request is processed

    FAQs

    1. Is there a penalty for premature withdrawal of Vijaya Bank FD account?

      Yes, there is a penalty of 1% for premature withdrawal of domestic term deposits greater than Rs.5 lakh if it is withdrawn within 12 months from date of opening.

    2. Can I withdraw just a portion of my Vijaya Bank FD prematurely?

      Yes, you can partially withdraw from your Vijaya Bank fixed deposit account.

    3. If I make a partial withdrawal from my FD account, will I get the same rate of interest on the remaining amount in my fixed deposit?

      No, you will not get the same rate of interest on your remaining fixed deposit. You will get an interest rate that is 1% below the rate applicable for the remaining tenure of your fixed deposit.

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