How to Close Central Bank of India Fixed Deposit (FD) Online

The allure of fixed deposits (FDs) lies in the predictability of returns and the sense of financial security they offer. However, life can be unpredictable; sometimes, you may need to break or liquidate your FD before its maturity.

This article focuses on how to break an FD with the Central Bank of India, one of India's oldest and most trusted banking institutions. Read on to understand both online and offline procedures.

Offline Method

• Visit the Bank Branch: Head to the nearest Central Bank of India branch, where your FD account is held.
• Request for FD Liquidation Form: Ask for the FD premature withdrawal or liquidation form at the counter.
• Fill in the Required Details: Ensure all information, including your FD account number and personal details, is accurately filled out.
• Submit Necessary Documents: Usually, the FD receipt or certificate is required. Make sure you bring this with you.
• Receive Confirmation: The bank executive will process your request and provide a confirmation. The FD amount along with the applicable interest (minus any penalties for premature withdrawal) will be credited to your linked bank account or given as a demand draft.

Online Method

• Login to Central Bank NetBanking Account: Access your account using your credentials.
• Navigate to the 'Online Term Deposit' Option: Look for the 'Break FD' or similar option here.
• Select the FD to be Broken: Choose the FD account you wish to liquidate.
• Confirm Liquidation: Review the details and confirm your decision.
• Receive Confirmation: Once processed, the amount will be transferred to your linked bank account.