How to close RD in Yono SBI?

 

Hello friends, in this blog we are going to discuss on how to close RD in Yono SBI? If you are a SBI customer and you have opened a recurring deposit online using internet banking or mobile banking then you can close the RD account using internet banking or mobile banking.

 

Suppose you have opened a e-RD in SBI and you want to close the RD before maturity date. Then how to close recurring deposit in Yono SBI? Many of SBI Yono users wanted to know the process of closing RD using Yono SBI.

 

Therefore we are discussing the step by step process in this article. If you are also searching for the same questions then you can read this article.

 

How to close RD in Yono SBI:

Before going to close recurring deposit in Yono SBI ensure that the RD is opened through internet banking or mobile banking. You can close RD through Yono which was opened online only. Now follow the following steps.

 

STEP 1: Go to your mobile, open SBI Yono app and log in to your account.

 

STEP 2: As you logged in to your account the dashboard of the account will be opened on the screen. Here you will find an icon ‘Deposits’. Click on this icon.

 

STEP 3: After clicking on the ‘Deposits’ you will be redirected to deposits page. In this page you will find some options like deposit calculator, fixed deposit, recurring deposit, my dream etc. Click on the option ‘Recurring Deposit’.

 

As you click on the ‘Recurring deposit’ your available recurring deposit accounts will be displayed. Click on the account number which you want to close.

 

STEP 4: Your selected recurring deposit account details will be displayed on the screen. Here you will see the account holder’s name, account number, maturity amount, rate of interest, current value of RD, date of maturity etc. Click on the option ‘Close Recurring Deposit’ on the end of the page.

 

STEP 5: A pop up message will be displayed on the screen. It ask ‘Are you sure you want to close your recurring deposit’. Click on OK here.

 

STEP 6: In this page your closing details of your recurring account will be displayed. Here you will see recurring deposit account holder’s name, RD account number, rate of interest, if any penalty amount to be deducted, amount to be refund and amount to be credited account number etc. Click on ‘Confirm’ button here.

 

STEP 7: An OTP will be sent to registered mobile number. Enter the OTP here and ‘submit’.

 

Your recurring deposit account will be closed and the amount after deducting 1% penalty on interest amount will be credited to your savings bank account number. This is the process how to close RD on Yono SBI. This process can also be watch on the following video.