How to Close an IndusInd Bank Fixed Deposit Account

Updated on: Aug 31st, 2023

In an unpredictable financial environment, liquidity becomes crucial. While Fixed Deposits (FDs) with institutions like IndusInd Bank promise attractive returns, there might come a time when you need to access those funds earlier than planned.

Whether driven by emergencies, investment opportunities, or other reasons, breaking an FD might be a decision you face. This blog provides a comprehensive guide on seamlessly breaking your FD with IndusInd Bank, ensuring you are well-prepared for such situations. Dive in to understand the process, potential implications, and tips to smooth this transition.

Breaking an FD at IndusInd Bank

Using Internet Banking

  • Sign in to your IndusInd Bank online banking portal.
  • Head to the 'Deposit Services' or a section of similar naming.
  • Look for an option labelled 'early FD withdrawal' or something similar and select it.
  • Choose the specific FD you intend to terminate.
  • Follow the prompts on the screen to finalise the action.

 

Using the Mobile App

  • Launch the IndusInd Bank mobile application and sign in 
  • Navigate to the section related to Fixed Deposits.
  • Find and tap the option indicating early termination or closure of the FD.
  • Pick the FD you want to close.
  • Proceed as directed by the app's instructions.

 

In-person at a Branch

  • Head to your closest IndusInd Bank branch office.
  • Discuss with a bank official your wish to terminate the FD.
  • You'll be handed a requisite form to detail the termination. Fill out and submit it.
  • Be prepared to show some ID and possibly the original FD documentation.
  • After processing, your funds will be transferred to your associated bank account.

 

Telephonic Service: Many banks offer the option to address service needs via phone. Dial the IndusInd Bank helpline and ask for guidance on FD termination procedures.

FAQs

Do I need to carry any documents to break the FD at a branch?

It's a good idea to carry your ID proof and the original FD receipt when you visit the branch.

Can I break my FD online if I open it at a branch?

Yes, if you've registered for IndusInd Bank's internet banking, you can break your FD online even if it was initially opened at a branch.

Is the process of prematurely closing an FD different for senior citizens?

The process remains the same, but the penalty and interest rates may differ slightly for senior citizens.

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