How to close SBI e-FD online?

 

Hello friends, in this article we are discussing on “how to close SBI e-FD online”. If you have opened a fixed deposit account in SBI online and you want to close the FD and want to get the amount instantly then how to do it?

 

The best thing in SBI e-FD is that you can close the FD at any time and can get the amount in your account instantly. But if you close the FD prematurely then you need to pay a penalty from the interest amount. In general the penalty will be the decrease of interest rate by 1%. But if you have not earned any interest then you don’t need to pay any penalty.

 

Many of SBI customers don’t know how to close e-FD in SBI online. That is why we are discussing the topic on this article. If you are also searching for this topic then read this article.

 

How to close FD in SBI online:

You can close SBI e-FD on Yono, Yono Lite and SBI internet banking. We are discussing the process on SBI internet banking on this article. Hence keep SBI Internet Banking user Id and password handy. Now follow the following steps.

 

STEP 1: Go to the website https://onlinesbi.sbi and go to the login page of SBI internet banking.

 

STEP 2: On this page enter your internet banking user Id, password and captcha code and click on “Login”.

An OTP will be received on the registered mobile number, enter the OTP on this page and click on “Submit”.

STEP 3: Now you are logged in to your account. On the top bar you will see some tabs. Click on the tab “Deposit & investments”.

 

STEP 4: A list of various options will be appeared on the screen. Click on the first option “Deposit”.

 

STEP 5: Again some new options will be appeared. Click on the option “Fixed deposit (e-TDR/ e-STDR)” out of them.

 

STEP 6: Now you will find some options of opening e-Fixed deposit. Select any one of them. We will select the option “Fixed deposit” and click on the “submit” button on the bottom of the page.

 

STEP 7: In this page you will see the fixed deposit opening form. On the top of the page you will see some tabs. Click on the tab “Close A/C Prematurely”.

 

STEP 8: Your existing e-Fixed deposits will be appeared on the screen. Select A/C to be closed and click on “Proceed”.

 

STEP 9: Your account details, penalty details and the amount to be paid will be appeared on the screen. Type a remark about for why you want to close the account and click on “submit”.

 

STEP 10: A pop up message will be appeared. Here it says that if you close the AC you will be lost the interest of the existing tenure. You can start a loan AC on your FD to get the overdraft facility. Hence to open loan AC against your FD click on “Open loan (Over draft). Otherwise click on “Close deposit account”.

 

STEP 11: An OTP will be sent to your registered mobile number with SBI. Enter the OTP and click on “Confirm”.

 

STEP 12: Your FD will be closed. Now go to the account statement and check the amount is credited to your account.

 

This is the process how to close FD account in SBI online.