How to Close an Kalyan Janata Sahakari bank Fixed Deposit Account
Updated on: Oct 4th, 2023
The decision to break a Fixed Deposit (FD) is often driven by sudden financial needs or changing economic situations. Closing an FD is an effortless process, but it’s essential to understand the nuances and ensure you don’t face any unwanted penalties.
This article focuses on the steps and considerations when closing an FD with Kalyan Janata Sahakari Bank.
How to close an FD in Kalyan Janata Sahakari Bank
- Visit the Nearest Branch: Visit the nearest Kalyan Janata Sahakari Bank branch where your FD account is held.
- Fill Up the Account Closure Form: Ensure you provide all necessary details accurately.
- Attach Necessary KYC Documents: This typically includes a copy of your PAN card, Aadhar card or other forms of ID.
- Submit FD Certificate: Hand over your FD certificate or receipt to the bank for verification.
- Use Kalyan Klick or Internet Banking: Log in to the Kalyan Klick mobile app or the bank's internet banking portal.
- Navigate to the FD Section: You'll find options to view and manage your FDs here.
- Choose the FD to Break: Select the particular FD you wish to break.
- Follow On-Screen Instructions: Complete the process by following the steps provided.
Will there be a penalty for closing my FD early?
Yes, Kalyan Janata Sahakari Bank charges a penalty for premature closure, which results in 1% less interest than the applicable FD rates. Also, no interest is payable if withdrawn before 7 days.
How soon will the funds be available after closing the FD?
Once you've completed the FD closure process, the funds usually become available immediately. However, it's recommended to check with the bank for specific timelines.
Can I close a tax saver FD prematurely?
No, the tax saver FD has a lock-in period of 5 years and premature withdrawal is not allowed.
Is there an online way to close the FD?
You can use the Kalyan Klick mobile banking application or the bank's Internet Banking portal to close your FD.
How can I check if my FD has been successfully closed?
After closing your FD, it's advisable to check the term deposit details through the Kalyan Klick mobile app or the bank's Internet banking portal. The closure of the FD might be reflected in your account within two working days.
returns on FD
Lock in returns as high as
8.61% before they go down
Close FD in Top Banks
Top Banks FD Schemes
Understanding Fixed Deposit
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.