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How do you liquidate a Fixed Deposit?

How do you liquidate a Fixed Deposit?

Steps to Close an FD Offline by Visiting Branch (Premature)

  1. Step 1: Visit the bank branch and get a form for premature withdrawal.
  2. Step 2: Fill the form with necessary details such as name, bank account details, and FD number among others.
  3. Step 3: Submit the document with the bank and they will process your request.

What is withdrawable Fixed Deposit?

Fixed deposits, with premature withdrawal facility, allow the depositor to close the FD before the date of maturity arrives. This comes as a relief in times of cash crunch. However, a certain amount may be required to be paid by the depositor as a penalty to the bank. This usually ranges between 0.5% and 1%.

What is difference between sweep in and liquidate Fixed Deposit?

Aside from a better interest rate, another advantage the sweep-in facility offers is that it forms a separate corpus that you can dip into during emergencies, without touching your regular investments or having to liquidate FDs. Also, it has no fees or penalties on withdrawal.

Can we liquidate Fixed Deposit HDFC?

You can break or liquidate your Fixed Deposits that you booked online through NetBanking. For FDs that were opened at a branch, please visit your nearest branch for liquidation.

How can I liquidate my fixed deposit account?

Step 1: Visit the HDFC website and login to your NetBanking account with your Customer ID and IPIN (NetBanking Password). Step 2: Click on the Fixed Deposit tab from the Menu bar situated on the left side of the page. Step 3: Select the ‘Liquidate Fixed Deposit ” option under the Fixed Deposit tab.

What happens in case of premature liquidation of fixed deposit?

In case of premature liquidation of NRO Fixed Deposit registered for DTAA, the refund of TDS on account of premature closure will be provided within 3-4 working days to your linked Savings Account. In case of online premature liquidation of NRO Deposit, the entire proceeds will be credited to NRO Account only.

How long is a fixed deposit in a bank?

Bank fixed deposits (FDs) has always been a popular investment alternative especially among investors who are conservative and need to preserve their capital. In banking parlance, bank FDs are called term deposits as they are for a specific term ranging from 7 days to up to as long as 10 years.

How to liquidate fixed deposit in HDFC Bank?

Visit the HDFC website and login to your NetBanking account with your Customer ID and IPIN (NetBanking Password). Click on the Fixed Deposit tab from the Menu bar situated on the left side of the page. Select the ‘Liquidate Fixed Deposit ” option under the Fixed Deposit tab. You will see a list of your fixed deposits in this section.