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.
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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