How to Close Tamilnad Mercantile Bank Fixed Deposit (FD) Online

In banking, Fixed Deposits (FDs) are touted for their stability and assurance of returns. Yet, unforeseen circumstances might propel you to liquidate your FD ahead of its tenure. For those with investments in Tamilnad Mercantile Bank, understanding the procedure for premature FD closure becomes pivotal.

Navigating the banking corridors with their distinct protocols can sometimes seem intricate. This guide aims to demystify the steps involved in breaking an FD at Tamilnad Mercantile Bank, highlighting any associated penalties and offering a comprehensive view of the process. Let's embark on this informative journey to make your financial moves confidently.

Complete the FD Termination Form

• Begin the process by filling out the FD termination form available at the bank.
• Obtain the form from the local branch and provide the necessary details.
• Ensure the branch supervisor or the responsible officer receives the form.
• In cases of joint accounts, every account holder must endorse the form.

Provide KYC Details

• Every account holder should attach their respective KYC documents.
• This encompasses both identity and address verification proofs.
• Before submission, all documents should have the holder's self-confirmation.

Present the FD Certificate or Receipt

• On initiating a fixed deposit, the bank furnishes a certificate or a receipt detailing the deposit specifics.
• This document must be showcased during FD termination, indicating deposit value, duration, and interest rate.
• Every account holder must sign this proof. Post verification, you'll be guided to claim the remaining amount.