How to Close SBM Bank Fixed Deposit (FD) Online

Fixed Deposits are an age-old instrument, preferred for their safety and stable returns. However, life's unpredictable nature can sometimes require us to liquidate our FDs before their maturity. Knowing the ins and outs is crucial if you have invested with SBM Bank and are pondering an early withdrawal.

The banking landscape, laden with its unique norms, makes premature FD breaking a choice necessitating careful consideration. This guide is dedicated to elucidating the process of FD closure at SBM Bank, shedding light on any penalties, and providing a stepwise breakdown. Navigate your financial decisions with clarity as you dive in.

Fill out the FD Account Closure Form

• Obtain and complete your branch's FD Account Closure or Fixed Deposit Liquidation form.
• Joint account holders must all sign the form.

Attach KYC Documents

• Attach copies of KYC documents, such as PAN (serves as identity proof) and address proof.
• Ensure documents are self-attested by all account holders.

Submit FD Certificate/Receipt

• Present the FD certificate or receipt issued by the bank as proof of deposit, signed by all account holders.
• The bank will verify and prompt for withdrawal of the balance. Options may include cash, cheque/DD, or transfer to another account.

Confirmation

• Banks typically notify via registered email or SMS once the FD account is closed.