How to Close CSB Bank Fixed Deposit (FD) Online

Fixed Deposits are a dependable instrument for financial growth, but sometimes circumstances necessitate accessing these funds before their maturity. Understanding the process becomes imperative if you hold an FD with CSB Bank and are contemplating an early withdrawal. The banking sphere has its intricacies, and breaking an FD prematurely is a decision that comes with its implications.

This guide aims to demystify the procedure for premature FD closure at CSB Bank. From potential penalties to the step-by-step methodology, we've got you covered. Read on to make informed choices about your savings and financial needs.

Premature Withdrawal of Term Deposits:

• Based on its discretion, the bank might allow early withdrawal upon the depositor's request.
• The withdrawal before the agreed term might result in a revised interest rate: either the rate for the actual period the deposit stayed or the originally agreed rate, whichever is lower.
• An additional penalty of 1% might be deducted from the interest.
• Depositors will be informed about the penalty and deposit rates at the time of deposit.
• The bank's ALCO will determine and adjust interest and penalty rates periodically.