State Bank of India, India’s largest and trusted lender. It offers a wide range of services to its customers. In this post, I will share information about how to close fixed deposit in SBI online & offline.
Bank fixed deposits are popular investment options among conservative investors. Term deposits provide the safety of your capital along with a fixed rate of interest. Apart from these benefits, you can also close FDs before maturity at the time of need.
SBI net banking portal provides personal banking services to its customers without any hassle. Have you invested in SBI FD and want to surrender it before maturity online. Then the post “How to close FD in SBI online?” is for you.
Also Read: How to open SBI fixed deposit account online?
Table of Contents
How to close fixed deposit in SBI online & offline?
Here you will find the answer to the questions “How to close SBI FD before maturity. How to close fixed deposit account in SBI online? State bank of India net banking portal has a simple process for you.
Click here to Open Demat & Trading Account with Upstox
You can close SBI fd online as well as by visiting a bank branch. However, it is advisable not to close it before maturity to avoid the extra charges.
Ways to close fixed deposit account in SBI
You can close your SBI FD account in two ways:
1. Through the official website of SBI
2. By visiting your SBI branch
Here’s the complete process about how to close SBI fixed deposit online.
How to close FD online in SBI
Premature Closure of Fixed Deposit SBI online: The step-by-step guide to close SBI FD online is mentioned below.
1. Visit SBI online personal banking portal. (https://www.onlinesbi.com/).
2. Log in to SBI online banking using your login id and password.
3. On the home page, under the “Fixed Deposit” option on the top menu, click on e-TDR/e-STDR. Here TDR is a term deposit. STDR is Special Term Deposit.
4. Next page, select the type of deposit account you want to close. Here, choose the e-TDR/e-STDR option. Now, you have to click on the “Proceed” tab.
5. Next, click on the “Close A/c Prematurely” option under ETDR / STDR (FD) section. Next, you will see the list of your fixed deposits with the bank.
6. Here, you need to select the FD that you want to close. And, click on the “Submit” tab.
7. Verify the details. Write the reasons for closing the FD as to why you want to close the FD account at the bank. Now, click on the “Confirm” tab.
8. Next, you will receive a “High-Security Password” on your registered mobile number.
9. Type the password. And, click on the “Confirm” tab.
10. You will see a message on the screen which says “Your e-TDR/e-STDR has been successfully closed”.
11. Done! Now the amount will be credited to your linked savings account.
12. This is how to close SBI fixed deposit online.
Notable Points
1. You can close your FD instantly if you initiate your request between 08:00 AM IST to 08:00 PM IST. If you initiate it after this time then it will be accepted for the next opening hours ie 08:00 AM IST.
2. You can only close your e-TDR/e-STDR through online mode. The TDR/STDR opened at the branch can be closed at the branch only.
Also Read: Top 10 Best Trading App in India
Also Read: SBI RD Account: SBI Recurring Deposit Interest Rates
How to cancel fixed deposit in SBI offline by visiting the branch
You can also close your FD in SBI by visiting the bank branch.
1. Visit the bank branch to close your FD in State Bank of India.
2. You need to collect a form for premature withdrawal.
3. Fill the form and submit it to the bank executive. You need to carry the FD receipt with you.
4. Now the executive will process your request for premature closure of your term deposit in the State Bank of India.
5. Once it is closed, the amount will be credited to your account.
Click here for SBI FD Interest Rates
Also Read: List of Banks in India
Also Read: CashKaro: India’s Largest Cashback and Coupons Site for Shoppers
Final Thoughts
I hope now you can close SBI fixed deposit account online using SBI internet banking. The State bank of India online has a simple and convenient process for you. You can easily close your SBI FD account from the comfort of your home or office. You can also choose an offline method to close FD in SBI as per your comfort.
Note: This post was originally published on May 1, 2020 and has been completely updated for accuracy and comprehensiveness.
How to close fixed deposit in SBI online & offline?
Related post: How to add a nominee in SBI account online?
Related post: How to open PPF account in SBI online?