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Letter to Bank for closing Fixed Deposit FD before/after Maturity

Most of the banks will not entertain request for withdrawal of fixed deposit money before maturity date. If you still request for withdrawal, you might lose a major portion of the interest on it. The bank may even totally waive it as per its terms and conditions.
Letter to Bank for closing Fixed Deposit FD before or after Maturity
Whether or not you have submitted the request to withdraw the money before or after the date of maturity the letter format will be the same. The bank will determine on its own the impact of date of withdrawal request on interest amount as per the terms.

Also check with the bank's branch for any prescribed form, because some banks may not take request letters and will only take requests for surrender of FD in their format.


FORMAT

Date: ..................

From
(Name of the Account/FD holder)
(Full Postal Address)
(Tel. No.)
(Email id)

To
The Manager
(Name of the Branch)
(Name of the Bank)
(Address)

Sub.: Surrender of fixed deposit for withdrawal of money
Ref: Fixed Deposit Account Number ..................

Dear Sir/Madam,

I am having a savings account in your bank at …….. branch, bearing account number………………………. I currently have one fixed deposit with your bank bearing number .............. for a sum of Rs. ............. which is maturing on ..(date)...

I hereby submit my request to you to kindly close the said fixed deposit and credit the proceeds to my/our savings account number .............

I declare that I have read and understood the terms and conditions of your bank for this purpose and I agree to abide by the same.

I am enclosing herewith the original copy of the fixed deposit receipt. A copy of my PAN card self attested by me is also enclosed herewith for verification purposes.

Kindly process my application at the earliest.

Thanking you!

Yours faithfully,

  (signature)
(Name of the Account Holder)

Enclosure:
(1) Original FD receipt
(2) PAN card signed copy

Comments

  1. Thank you very much for the format.

    ReplyDelete
  2. Was helpful in writing my letter.

    ReplyDelete
  3. What if we just wanted to withdraw some amount after maturity of FD and then want to reinvest the remaining amount as fd

    ReplyDelete
    Replies
    1. Then, at first, you will have to submit a request to mature the FD in full and after receipt of the maturity amount, you can keep whatever amount you want to keep out of it and open a new FD for the rest of the amount with the bank.

      Options to mature an existing FD and open a new FD are available both through online medium and at branch office.

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  4. Is it possible if nominee can request for FD withdrawal as the account holder is being hospitalized and money is required for same.

    ReplyDelete
    Replies
    1. Generally, only after death of the FD holder, withdrawal is possible by the nominee by providing necessary documents. But if the FD holder is alive and hospitalised, you can get the FD withdrawal/maturity form signed from that person in the hospital and submit it to the bank. Some banks have made available the form online too. Please call at the customer care executive number of the bank or email them to know the exact process. If the FD was created online, you can use the netbanking website to mature the FD. An OTP might be sent in online withdrawal case.

      Delete

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