FDs
Bonds
Blog
Home>Fixed Deposit>Abhyudaya Bank>How to Close Abhyudaya Bank Fixed Deposit (FD) Online
bank_logo

How to Close Abhyudaya Bank Fixed Deposit (FD) Online

Updated 08 Dec 2023

Fixed deposits (FDs) have long been a staple for individuals looking to save money due to their security and higher interest rates. The process creating an FD is well understood, knowing how to terminate or withdraw one prematurely might not always be clear in banks like Abhyudaya Cooperative Bank.

 

This article aims to guide you through closing an FD with Abhyudaya Cooperative Bank and address some queries related to this process.

Steps for Closing an FD in Abhyudaya Co Bank

Using the Mobile App

  1. Open the Abhyudaya Co Bank Mobile App.
  2. Navigate to the 'FD' section in the menu. Select the FD you wish to close.
  3. Choose the 'Close FD' or 'Premature Withdrawal' option.
  4. Verify all details thoroughly. Confirm your decision.

Offline Mode

  1. Visit your Abhyudaya Cooperative Bank branch.
  2. Inform a bank representative about your intention to close your FD during a conversation.
  3. Submit your FD certificate along with any paperwork.

Closing your FD through the Netbanking Method

  1. Start by visiting the website of Abhyudaya Cooperative Bank. Look for the "Personal Login" tab. Click on it to access your account.
  2. Once logged in, navigate to the "Fixed Deposit Tab" on the website.
  3. From there, select the FD you wish to break and proceed by clicking either the "Break FD" or "Premature Withdrawal" option.
  4. Take a moment to review all the information provided and ensure its accuracy before confirming your decision by clicking on the button.
  5. A confirmation message will be displayed on your screen after confirmation.

FAQs

What is the penalty for prematurely closing an FD at Abhyudaya Cooperative Bank?

The bank imposes a penalty of 1% for premature withdrawal of an FD.

If I close my FD within 7 days of its auto-renewal will I still earn any interest?

No, if you withdraw your FD within 7 days of its auto-renewal, no interest will be paid out. However, after this initial period, interest will be paid at rates after deducting a 1% penalty.

What should I do if I have misplaced my FD certificate issued by the bank?

If you misplace your FD certificate, it's important to inform the bank. The bank will assist you with the procedures. Issue a duplicate certificate, although there may be certain charges involved.

Will I have to pay Tax Deducted at Source (TDS) if I prematurely withdraw my FD?

TDS will be deducted if the interest earned on your FD crosses ₹40,000 (₹50,000 for citizens) within a year. The deduction rate is 10% if you have provided your PAN card details or 20% in case you haven't submitted a PAN card.

Can I still avail of DICGC insurance coverage if I close my FD before its maturity at Abhyudaya Co Bank?

Absolutely! The DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance coverage of, up to ₹5 lakhs still applies to FDs held at Abhyudaya Co Bank regardless of when you choose to withdraw them.

fd_banner

Close FD in Top Banks

icici-bank-fd/how-to-close
Close ICICI Bank FD Onlinearrow
indian-bank-fd/how-to-close
Close Indian Bank FD Onlinearrow
hdfc-bank-fd/how-to-close
Close HDFC Bank FD Onlinearrow
axis-bank-fd/how-to-close
Close Axis Bank FD Onlinearrow
indusind-bank-fd/how-to-close
Close IndusInd Bank FD Onlinearrow
yes-bank-fd/how-to-close
Close Yes Bank FD Onlinearrow
idfc-bank-fd/how-to-close
Close IDFC First Bank FD Onlinearrow
idbi-bank-fd/how-to-close
Close IDBI Bank FD Onlinearrow
rbl-bank-fd/how-to-close
Close RBL Bank FD Onlinearrow
south-indian-bank-fd/how-to-close
Close South Indian Bank FD Onlinearrow
dcb-bank-fd/how-to-close
Close DCB Bank FD Onlinearrow
karnataka-bank-fd/how-to-close
Close Karnataka Bank FD Onlinearrow
city-union-bank-fd/how-to-close
Close City Union Bank FD Onlinearrow
karur-vysya-bank-fd/how-to-close
Close Karur Vysya Bank FD Onlinearrow
standard-chartered-bank-fd/how-to-close
Close Standard Chartered Bank FD Onlinearrow
csb-bank-fd/how-to-close
Close CSB Bank FD Onlinearrow
state-bank-of-mauritius-fd/how-to-close
Close SBM Bank FD Onlinearrow
kotak-bank-fd/how-to-close
Close Kotak Mahindra Bank FD Onlinearrow
federal-bank-fd/how-to-close
Close Federal Bank FD Onlinearrow
bandhan-bank-fd/how-to-close
Close Bandhan Bank FD Onlinearrow
tamilnad-mercantile-bank-fd/how-to-close
Close Tamilnad Mercantile Bank FD Onlinearrow
nainital-bank-fd/how-to-close
Close Nainital Bank FD Onlinearrow
jammu-and-kashmir-bank-fd/how-to-close
Close Jammu & Kashmir Bank FD Onlinearrow
central-bank-of-india-fd/how-to-close
Close Central Bank of India FD Onlinearrow
indian-overseas-bank-fd/how-to-close
Close Indian Overseas Bank FD Onlinearrow

Top Banks FD Schemes

unity-small-finance-bank-fd
Unity Small Finance Bankarrow
federal-bank-fd
Federal Bankarrow
nainital-bank-fd
Nainital Bankarrow
tamilnad-mercantile-bank-fd
Tamilnad Mercantile Bankarrow
suryoday-small-finance-bank-fd
Suryoday Small Finance Bankarrow
bajaj-finance-fd
Bajaj Financearrow
equitas-small-finance-bank-fd
Equitas Small Finance Bankarrow
karnataka-bank-fd
Karnataka Bankarrow
shivalik-small-finance-bank-fd
Shivalik Small Finance Bankarrow
dhanlaxmi-bank-fd
Dhanlaxmi Bankarrow
sbi-bank-fd
State Bank of Indiaarrow
city-union-bank-fd
City Union Bankarrow
csb-bank-fd
CSB Bankarrow
standard-chartered-bank-fd
Standard Chartered Bankarrow
state-bank-of-mauritius-fd
SBM Bankarrow
uco-bank-fd
UCO Bankarrow
karur-vysya-bank-fd
Karur Vysya Bankarrow
jana-small-finance-bank-fd
Jana Small Finance Bankarrow
hdfc-bank-fd
HDFC Bankarrow
union-bank-of-india-fd
Union Bank of Indiaarrow
pnb-bank-fd
Punjab National Bankarrow
indian-overseas-bank-fd
Indian Overseas Bankarrow
punjab-and-sind-bank-fd
Punjab and Sind Bankarrow
central-bank-of-india-fd
Central Bank of Indiaarrow

Understanding Fixed Deposit

Fixed Deposit vs Term Deposit: Which one should you choose?arrow
Types of Fixed Deposit (FD)arrow
Tax On FD Interestarrow
Overdraft Against Fixed Deposit (FD)arrow
Fixed Deposit vs SIParrow
Alternatives to FDs in Indiaarrow
Sweep In Fixed Depositarrow
Premature FD Withdrawals: How to Withdraw and Penalty Rates?arrow
Difference Between FD and PPF arrow
Flexi Fixed Depositarrow
Tax Saving Fixed Depositarrow
Senior Citizen Fixed Deposit Interest Rates 2024arrow
FD Vs Liquid Funds: Key Differencesarrow
Fixed Deposit vs RDarrow
Cumulative vs Non Cumulative Fixed Depositarrow
Double Scheme Fixed Depositarrow
Post Office Fixed Deposit Interest Ratesarrow
Fixed Deposit vs Bondsarrow
Fixed Deposit Receipt (FDR)arrow
Fixed Deposit vs Sovereign Gold Bond: Which is Better?arrow
Cumulative FDs: Meaning, Features, and Benefitsarrow
Credit card against FDarrow
Tax Saver FDarrow
TDS on Fixed Deposit Interestarrow
Short Term FDarrow
fd_banner

Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

wint fd

Earn upto 8.35% interest by investing in FDs with Wint Wealth.

Explore Now