How to Close City Union Bank Fixed Deposit (FD) Online
Updated 08 Dec 2023
We all aim for financial stability, and Fixed Deposits (FDs) often play a key role in achieving it. But unforeseen circumstances may necessitate accessing these funds earlier than planned. City Union Bank, renowned for its customer-centric approach, has provisions for such situations.
If you're wondering how to break your FD with City Union Bank, this blog is your comprehensive guide. We'll delve into the nuances of premature FD closure, offering insights and detailing the procedures involved. Let's simplify the process, ensuring your financial decisions are always well-informed and timely.
Closing an FD Account at City Union Bank
Closing an FD Account
- Navigate to the Union Bank's official website.
- Tap on 'General Services'.
- From the dropdown, choose 'Services'.
- Opt for 'FD Closure Requests'.
- The FD will be processed for closure on the next business day.
Premature Withdrawal of FD Account
- Head over to the Union Bank's main site.
- Select 'General Services'.
- From the available options, pick 'Services'.
- Click on 'FD Premature Withdrawal'.
- Your FD will be scheduled for early withdrawal during the upcoming working day.
Can I close my FD online through City Union Bank's portal?
Yes, you can initiate a premature withdrawal of your FD online by following the steps mentioned in the 'FD Closure Requests' or 'FD Premature Withdrawal' sections on the bank's website.
Will I receive the interest accrued till the date of closing the FD?
Yes, but the interest rate might be adjusted based on the period for which the FD remained with the bank and any premature withdrawal penalties.
How long does it take to get the FD amount after premature withdrawal?
After initiating the premature withdrawal, the FD amount, along with the applicable interest (minus any penalties), will usually be credited to your linked account on the next working day.
Do I need to visit a branch if I close my FD online?
Generally, if you initiate the premature withdrawal online, you do not need to visit a branch. However, in certain cases, the bank might request a physical visit for verification or documentation purposes.
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