How to Close Standard Chartered Fixed Deposit (FD) Online

Navigating financial urgencies often requires immediate access to funds, which might mean breaking your Fixed Deposit. If you're a client of Standard Chartered Bank and you're contemplating this move, it's essential to understand the nuances of the process. The banking world comes with its set of protocols, and prematurely breaking an FD is no exception.

Our guide is tailored to clarify this procedure within Standard Chartered Bank. Being well-informed is the first step, with potential penalties and diverse procedures. Dive in to ensure your financial decisions are made with clarity and confidence.

Two scenarios can be considered here depending on one’s situation

• Terminating your Standard Chartered Fixed Deposit Account upon Maturity:
• To conclude your fixed deposit with Standard Chartered Bank at its maturity, start by visiting your local branch and completing the requisite account termination form. Make sure to sign this form and hand it to the branch head.
• Following this, attach essential Know Your Customer (KYC) documents with the termination form, including proof of identity and residence.
• Upon initiating a fixed deposit, the bank provides you with a certificate or receipt indicating the specifics of your deposit, such as amount, period, and interest rate. Once you present, this certificate and the bank confirms its accuracy, the matured amount will be transferred to your account.

Terminating your Standard Chartered Fixed Deposit Account Before Maturity

• The protocol for premature termination mirrors the steps mentioned for maturity-based closure. This includes submitting the account termination form, KYC documents, and the fixed deposit proof. However, note that an early termination might be subjected to additional charges or fees as a penalty for premature withdrawal.