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How to Close Unity Small Finance Bank Fixed Deposit (FD) Online

Updated 08 Dec 2023

Fixed deposits (FDs) are an integral component of financial planning for many. However, sometimes, emergent needs or changed financial scenarios necessitate the closing of these FDs before maturity. Unity Small Finance Bank, a notable player in India's financial ecosystem, has specific processes for premature FD withdrawals.


This article aims to guide you through the steps you'll need to undertake if you're considering closing your FD at Unity Small Finance Bank.

How to Close an FD in Unity Small Finance Bank

Offline Method (Branch Visit)

  • Visit the Nearest Branch: Locate and head to the closest Unity Small Finance Bank branch.
  • Consultation: Inform the bank executive about your intent to break your fixed deposit.
  • Form Filling: The bank executive will provide you with a form. Ensure you fill in the necessary details such as your FD account number, savings account number, and other relevant information.
  • Document Submission: Submit the form along with any required documents.
  • Transfer of Funds: Once everything is in order, the bank will process your request and transfer the FD amount (after deducting any applicable penalty) to your linked savings account.

Note: While the master blog doesn't specifically mention an online method, most modern banks offer online facilities for such services. If you wish to explore this, it's best to log into your internet banking account or consult with the bank directly.


Is there a penalty for premature withdrawal of the FD from Unity Small Finance Bank?

Yes, a penalty of 1% on the applicable interest rate or the contracted rate (whichever is lower) is imposed for premature withdrawals.

How much time does it take to receive the FD amount after closing it?

Generally, once you've completed all the procedures, the FD amount (minus any penalties) is immediately transferred to your savings account. However, it's advisable to check with the bank for specific timelines.

Can I close my FD online with Unity Small Finance Bank?

The master blog doesn't mention an online method. It would be best to check with the bank directly or log into your internet banking account for this information.

Are there any documents required to close my FD at Unity Small Finance Bank?

Yes, while closing your FD offline, you'd typically need to submit the FD receipt or provide the FD account number. Additionally, some form of identification might be required.

If I have availed an overdraft against my FD, can I still close it?

Generally, if you've taken an overdraft against your FD, closing the FD would involve settling the overdraft amount. However, specific terms may vary, and it's essential to consult with the bank.


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