application letter for closing fixed deposit account

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Search letters formats here, letter to bank for closing fixed deposit before/after maturity, submit your comments here.

Thank you very much for the format.

Was helpful in writing my letter.

What if we just wanted to withdraw some amount after maturity of FD and then want to reinvest the remaining amount as fd

Then, at first, you will have to submit a request to mature the FD in full and after receipt of the maturity amount, you can keep whatever amount you want to keep out of it and open a new FD for the rest of the amount with the bank. Options to mature an existing FD and open a new FD are available both through online medium and at branch office.

Is it possible if nominee can request for FD withdrawal as the account holder is being hospitalized and money is required for same.

Generally, only after death of the FD holder, withdrawal is possible by the nominee by providing necessary documents. But if the FD holder is alive and hospitalised, you can get the FD withdrawal/maturity form signed from that person in the hospital and submit it to the bank. Some banks have made available the form online too. Please call at the customer care executive number of the bank or email them to know the exact process. If the FD was created online, you can use the netbanking website to mature the FD. An OTP might be sent in online withdrawal case.

Thank you Ramesh :)

If the fixed deposit is in joint name what to do for encashment of it prematurely?

Both holders' signatures will be required in application form. Please visit bank's branch office. They might have printed application form for you to fill up and submit.

Can I claim fd amount after 10 years ? And how

Yes, you may. But, please contact the bank for accurate procedure for this.

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Leave your comments and queries here. We will try to get back to you.

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15 Sample Letters to Withdraw from Fixed Deposit

Imagine this: you’ve invested your hard-earned money in a fixed deposit, anticipating a secure return on your investment.

But life is full of surprises, and you find yourself in a situation where you need to withdraw your funds prematurely. Whether it’s an unexpected medical emergency, a once-in-a-lifetime opportunity, or a change in your financial priorities, knowing how to write a clear and concise letter to withdraw from your fixed deposit can save you time and hassle.

Sample Letters to Withdraw from Fixed Deposit

To help you navigate this process with ease, we’ve compiled 15 sample letters that cater to various scenarios, giving you the tools you need to communicate effectively with your bank.

Subject: Request for Premature Withdrawal from Fixed Deposit – [FD Account Number]

Dear [Bank Manager],

I, [Your Name], am writing to request a premature withdrawal from my fixed deposit account [FD Account Number]. I understand that this request may result in a penalty, as per the terms and conditions of the fixed deposit agreement.

Due to an unforeseen medical emergency, I require immediate access to the funds in my fixed deposit. I kindly ask for your assistance in processing this withdrawal as quickly as possible.

Please let me know the necessary steps and documentation required to complete this process. I appreciate your understanding and cooperation in this matter.

Thank you for your attention to this request.

[Your Name]

[Your Contact Information]

Subject: Withdrawal from Fixed Deposit Before Maturity – [FD Account Number]

I, [Your Name], am writing to inform you of my intention to withdraw funds from my fixed deposit account [FD Account Number] before its maturity date. I acknowledge that this early withdrawal may result in a penalty, as outlined in the fixed deposit terms and conditions.

I have recently come across a promising investment opportunity that requires immediate funding. After careful consideration, I have decided to redirect the funds from my fixed deposit to pursue this opportunity.

Please provide me with the necessary forms and instructions to proceed with the premature withdrawal. I am prepared to accept any applicable penalties.

Thank you for your assistance in this matter.

Subject: Request for Early Withdrawal from Fixed Deposit – [FD Account Number]

I, [Your Name], am writing to request an early withdrawal from my fixed deposit account [FD Account Number]. I understand that this request may result in a reduced interest rate, as per the terms and conditions of the fixed deposit agreement.

Due to a change in my financial circumstances, I require access to the funds in my fixed deposit to cover unexpected expenses. I would appreciate your assistance in processing this withdrawal as soon as possible.

Please advise me of the necessary steps and documentation required to complete this process. I am grateful for your understanding and cooperation in this matter.

Subject: Premature Withdrawal from Fixed Deposit – [FD Account Number]

I, [Your Name], am writing to inform you of my decision to withdraw funds from my fixed deposit account [FD Account Number] before its maturity date. I understand that this premature withdrawal may result in a penalty, as outlined in the fixed deposit terms and conditions.

I have been presented with a unique opportunity to invest in a business venture that aligns with my long-term financial goals. After careful consideration, I have decided to reallocate the funds from my fixed deposit to capitalize on this opportunity.

Please provide me with the necessary forms and instructions to initiate the premature withdrawal process. I am aware of and accept any applicable penalties.

Subject: Request for Partial Withdrawal from Fixed Deposit – [FD Account Number]

I, [Your Name], am writing to request a partial withdrawal from my fixed deposit account [FD Account Number]. I understand that this request may result in a penalty and a recalculation of the interest rate, as per the terms and conditions of the fixed deposit agreement.

Due to an unexpected home repair, I require a portion of the funds in my fixed deposit to cover the expenses. I kindly ask for your assistance in processing this partial withdrawal while allowing the remaining balance to continue earning interest until the original maturity date.

Subject: Withdrawal from Fixed Deposit for Educational Purposes – [FD Account Number]

I have been accepted into a prestigious educational program that requires immediate funding. After careful consideration, I have decided to use the funds from my fixed deposit to cover the tuition and associated expenses.

Subject: Request for Early Withdrawal from Fixed Deposit – Family Emergency – [FD Account Number]

Due to a family emergency, I require immediate access to the funds in my fixed deposit to cover unexpected travel and medical expenses. I would appreciate your assistance in processing this withdrawal as quickly as possible.

Please advise me of the necessary steps and documentation required to complete this process. I am grateful for your understanding and cooperation during this challenging time.

Thank you for your attention to this urgent request.

Subject: Premature Withdrawal from Fixed Deposit – Debt Consolidation – [FD Account Number]

I have decided to consolidate my outstanding debts to improve my financial health and reduce my monthly expenses. After careful consideration, I have determined that using the funds from my fixed deposit is the most prudent course of action.

Subject: Request for Partial Withdrawal from Fixed Deposit – Home Purchase – [FD Account Number]

I am in the process of purchasing a home and require a portion of the funds in my fixed deposit to cover the down payment and closing costs. I kindly ask for your assistance in processing this partial withdrawal while allowing the remaining balance to continue earning interest until the original maturity date.

Subject: Withdrawal from Fixed Deposit for Business Investment – [FD Account Number]

I have been presented with a promising business investment opportunity that requires immediate capital. After careful consideration and due diligence, I have decided to use the funds from my fixed deposit to pursue this venture.

Subject: Request for Early Withdrawal from Fixed Deposit – Wedding Expenses – [FD Account Number]

I am getting married in the coming months and require access to the funds in my fixed deposit to cover wedding-related expenses. I would appreciate your assistance in processing this withdrawal as soon as possible.

Subject: Premature Withdrawal from Fixed Deposit – Relocation – [FD Account Number]

I have recently accepted a job offer in another city and need to relocate. After careful consideration, I have decided to use the funds from my fixed deposit to cover moving expenses and initial living costs.

Subject: Request for Partial Withdrawal from Fixed Deposit – Car Purchase – [FD Account Number]

I am in the process of purchasing a car and require a portion of the funds in my fixed deposit to cover the down payment and associated costs. I kindly ask for your assistance in processing this partial withdrawal while allowing the remaining balance to continue earning interest until the original maturity date.

Subject: Withdrawal from Fixed Deposit for Charitable Contribution – [FD Account Number]

I have decided to make a substantial charitable contribution to a cause that is close to my heart. After careful consideration, I have determined that using the funds from my fixed deposit is the most effective way to support this organization.

Subject: Request for Early Withdrawal from Fixed Deposit – Emergency Home Repair – [FD Account Number]

Due to an unexpected and urgent home repair, I require immediate access to the funds in my fixed deposit to cover the expenses. I would appreciate your assistance in processing this withdrawal as quickly as possible.

Please advise me of the necessary steps and documentation required to complete this process. I am grateful for your understanding and cooperation in this time-sensitive matter.

Withdrawing from a fixed deposit before its maturity date can be a necessary step in managing your finances and responding to life’s unexpected events.

By using these sample letters as a guide and tailoring them to your specific circumstances, you can effectively communicate your needs to your bank and ensure a smooth and efficient withdrawal process.

Remember to clearly state the reason for your withdrawal, acknowledge any potential penalties, and express your appreciation for the bank’s assistance.

By maintaining a professional and courteous tone in your correspondence, you can foster a positive relationship with your bank and minimize any potential complications.

Ultimately, the key to successfully withdrawing from a fixed deposit lies in being proactive, informed, and communicative. By taking the time to craft a well-written letter and staying on top of the necessary documentation and procedures, you can navigate this process with confidence and ease.

Application For Closure Of Fixed Deposit Account [3+SAMPLES].

Application For Closure Of Fixed Deposit Account [3+SAMPLES]

How to write a letter to close fixed deposit account .

• You may write your address (Optional)
• Start the letter with the bank's address and branch name.
• Write the salutation (Sir/Madam).
• Explain why the reason why you wish to Close your FD account. 
• Request that the balance be transferred to your bank account. 
• At the end of the letter, include your name, account number, and signature.
• Letter to Bank for CLOSING LOAN ACCOUNT.
• Application For Re-open Bank Account.
• Letter to Bank Manager to Change Account Type.

SAMPLE 1 : Application For Closure Of Fixed Deposit Account.

From, Your Address. To The Bank Manager Name of the Bank Bank address. Date : 24th January, 202#. Subject :-  Prayer for closure of Fixed Deposit Account. Dear Sir, I have a Fixed Deposit Account No. 4550-7477-2828 in the name of Shri. Mahesh Bhatt that matured on __________ . I am writing this application for closure of Fixed Deposit Account due to ( Mention your reason here). Therefore, I request you to close the Fixed Deposit and credit the fixed deposit amount to my saving/current account account No. (Account No) Enclosure: I am enclosing an FD Receipt/FD Bond/FD Advice as well as a KYC document with my application for Fixed deposit closure. Thank you. Yours Sincerely, Mahesh Bhatt Phone no.: Signature : ________.

  MUST READ| Application for Closing Current Bank Account.

SAMPLE 2 : Letter to Bank for closing Fixed Deposit before the maturity.

To The Branch Manager State Bank of India Udal 24/ Street Mumbai - 56001. Date :  Subject: Closing of fixed deposit for money withdrawal. Dear Sir/Madame, I currently have one fixed deposit account with your bank for a sum of Rs. 70,000/- that is due to mature on 24 October, 202#. I hereby request that you close the aforementioned fixed deposit and credit the proceeds to my savings account number, (Account Number). My FD Account Details: Account Holder : Account Number :  Registered Email : I declare that I have read and understood your bank's terms and conditions for this reason. Yours Sincerely, Name :  Signature :  Necessary documents are attached.

ALSO READ| Application for Bank Loan.

SAMPLE 3 : Application For Closing Of Fixed Deposit Account.

FAQ on application for closure of Fixed Deposit account.

Q.1. how can i close my fixed deposit after maturity, q.2. how to write a letter to bank for fixed deposit.

Respected Sir, For the past Seven years, I've had a savings account at your Bank with the account number 4057-7547-0032. I'd like to open a 100,000 rupees fixed deposit with your bank for a period of one year. I would gladly comply with any other formalities imposed by the bank.

Q.3. Can I withdraw my FD at any time?

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Application for Breaking Fixed Deposit (with Samples & PDFs)

I have listed sample templates to help you craft an effective and professional application for breaking fixed deposit.

Also, I would like to point out that you can also download a PDF containing all the samples at the end of this post.

Regarding Application for Premature Withdrawal of Fixed Deposit

First, find the sample template for application for breaking fixed deposit below.

Subject: Application for Breaking Fixed Deposit

Dear Sir/Madam,

I need to break this Fixed Deposit due to [mention reason briefly – e.g., urgent financial need, medical emergency, or any other reason]. I kindly request you to process the closure of my FD and transfer the funds to my savings account linked with the same bank.

I understand that there may be penalties or charges for breaking the Fixed Deposit before the maturity date, and I am willing to abide by the rules and regulations set by the bank in this regard.

I would appreciate it if you could expedite the process and provide me with the necessary details on the amount to be credited to my savings account after deducting any applicable charges.

Thank you for your prompt attention to this matter. I look forward to your cooperation in this regard.

Yours sincerely,

Below I have listed 5 different sample applications for “application for breaking fixed deposit” that you will certainly find useful for specific scenarios:

Application to Break Fixed Deposit for Emergency Medical Expenses

Dear [Bank Manager’s Name],

I hope you are doing well. I am writing to request your help with a matter of urgency. My [family member/friend], [Name], has fallen ill and requires immediate medical attention. The doctors have advised that [he/she] needs a treatment that we must arrange for without delay.

I understand that breaking a Fixed Deposit before its maturity date may incur penalties, but this situation is an emergency, and I have no other means to finance the medical treatment required for [Name].

I assure you that once the situation stabilizes, I will deposit the funds back into a new Fixed Deposit account as soon as possible. I kindly request your understanding and assistance in this matter.

[Your Name] [Account Number] [Contact Number]

Application for Early Withdrawal of Fixed Deposit for Family Emergency

To, The Manager, [Bank Name], [Branch Address]

I am writing to request the early withdrawal of my Fixed Deposit (FD) account [FD Account Number] due to a family emergency that requires immediate financial assistance. My family is facing a sudden situation that needs urgent funds for medical treatment.

I assure you that I will comply with all necessary procedures and settle any dues or charges incurred for the early withdrawal. I kindly request your prompt assistance to expedite the process so that I can provide the necessary help to my family at the earliest.

Thank you for your attention to this matter. I am grateful for your understanding and cooperation in this challenging situation.

Application for Premature Closure of Fixed Deposit due to Urgent Home Repairs

Respected Sir/Madam,

Due to unforeseen circumstances, our home requires immediate repairs to ensure the safety and well-being of my family and me. The funds from the FD account will help cover the expenses needed for these repairs.

I kindly request your assistance in processing the premature closure of my FD account and transferring the funds to my savings account [Account Number]. I would be grateful for your prompt attention to this matter as the repairs are essential for our living conditions.

[Your Name] [Your Account Number]

Application to Liquidate Fixed Deposit to Fund Education Abroad

Subject: Application to Liquidate Fixed Deposit to Fund Education Abroad

I am writing to request the liquidation of my Fixed Deposit with account number [FD Account Number] to fund my education abroad. I have been offered a great opportunity to study in [Country Name] and I need financial support to pursue my dreams.

I have attached the necessary documents, including my admission letter, course details, and fee structure for your reference. The total amount required for my education is [Amount in Rupees], and I believe liquidating my Fixed Deposit is the best option to meet this financial need.

I kindly request your assistance in processing the liquidation of my Fixed Deposit at the earliest convenience. Your support in this matter would greatly help me in achieving my academic goals and making my family proud.

[Your Name]

Application for Breaking Fixed Deposit to Support Small Business Venture

To, The Manager, [Bank Name], [Branch Address], [City, State, Pin Code]

Subject: Application for Breaking Fixed Deposit to Support Small Business Venture

I hope you are doing well. I am writing this letter to request your help in breaking my fixed deposit account with [Bank Name] to support my small business venture. I have been dreaming of starting a small business in my community to create job opportunities and contribute to our local economy.

I understand the importance of a fixed deposit, but I assure you that this decision is crucial for me to pursue my entrepreneurial dream. I am committed to repaying the amount withdrawn as soon as my business starts generating revenue.

I kindly request your approval and assistance in processing the closure of my fixed deposit account at the earliest. Your support in this matter will be greatly appreciated and will help me move one step closer to achieving my goal.

How to Write Application for Breaking Fixed Deposit

I am sure you will get some insights from here on how to write “application for breaking fixed deposit”. And to help further, you can also download all the above application samples as PDFs by clicking here .

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Fixed Deposit Closure Application Letter to Bank Manager

Closing a fixed deposit (FD) account with your Bank can seem daunting. However, writing an application letter to your bank manager requesting the closure of your FD account is simple. This comprehensive guide provides step-by-step instructions and sample letters to help you easily write a practical FD closure application.

Fixed Deposit Liquidation Application to Bank Manager

You may need to close or liquidate your fixed deposit account prematurely due to an unexpected financial emergency. Here is a sample application letter to request your bank manager for premature closure of the FD account:

Date: DD/MM/YYYY

The Manager

[Bank Name]

[Bank Address]

Subject: Request for premature closure of Fixed Deposit Account No. [xxxxxx]

Respected Sir/Madam,

I, [Your Name], presently reside at [Your Address] and hold a fixed deposit account [FD Account Number] at your [Branch Name] branch. The details related to the account are:

• FD Account Number:
• Date Opened:
• Original Tenure:
• Maturity Date:
• Original Deposit Amount:
• Interest Rate:

I opened this [1/2/3 years] FD account [days/months/years] ago for [purpose, e.g., children’s education/wedding/vacation]. Unfortunately, due to [state reason], I am facing an urgent financial crisis and need money.

Therefore, I request that you let me close my fixed deposit account prematurely. I request you to [waive off penalties for pre-closure/deduct minimum pre-closure penalties] and pay the principal deposit amount along with accrued interest earned to date.

I will be highly thankful to you for considering my application favorably. Please let me know if you need any other documents from my end to process this closure request.

[Your name]

[Your signature]

Encl: Copy of FD account statement/passbook

This application letter clearly states your requirement for premature FD closure while providing critical details about your FD account. Customize the letter with your personal details and account information. Politely request the bank manager to consider waiving off or minimizing penalties to improve the chances of approval.

Application for Fixed Deposit Early Withdrawal Due to Financial Hardship

Are you facing unexpected medical expenses, job loss, or other emergencies? Here is how to write an application to withdraw your FD principal prematurely:

Fixed Deposit Early Withdrawal Application Due to Medical Emergency

Subject: Request for Fixed Deposit premature closure due to medical emergency

I, [Your Name], hold a fixed deposit account [FD account number] at your [branch name] branch. I had opened this [1/2/3 years] FD on [date] for Rs [amount] at an interest rate of [rate]%.

Unfortunately, my [relation] has been hospitalized recently for [medical condition], and the treatment requires approximately Rs [amount]. This has put an extreme financial burden on my family. I’m sharing copies of medical reports and bills as document proof here for you.

As I do not have enough savings to pay for the treatment, I request you to allow premature closure of my fixed deposit. Please allow closure of my FD and pay the principal along with interest accrued to date after deducting minimum penalty charges.

Please understand my situation and process my closure request urgently. Please let me know if any other supporting documents are required from my end.

Encl: Medical reports/bills copy

To support your application, submit additional documents like doctor prescriptions, medical test reports, hospital bills, etc. Being polite and highlighting urgency may help get it approved faster.

Fixed Deposit Premature Withdrawal Request Due to Job Loss

The Manager,

Subject: Fixed Deposit Premature Closure Request Due to Job Loss

This is to inform you that I, [Your Name], working as [designation] at [company name], have recently lost my job due to the company winding up operations.

I have an existing fixed deposit account [FD account number] at your [branch name] branch, which I opened [months/years ago]. The details related to it are:

• Maturity Amount:

As I have lost my primary source of income, I am facing severe financial constraints to manage monthly household expenses. I would therefore like to request that you please allow me to close my fixed deposit account prematurely.

I would be grateful if you waive any penalty charges for premature withdrawal and sanction closure as soon as possible. Please feel free to contact me if any clarification or documents are required for expediting this closure request.

Encl: Company closure notice/termination letter

Customize this sample letter with your employment and FD details. Including authentic evidence of job loss will portray genuineness.

Application to Close Fixed Deposit Due to Other Financial Emergency

Subject: Fixed Deposit Premature Closure Application

I opened a [1/2/3 years] fixed deposit account [FD account number] at your [branch name] branch on [date] with an interest rate of [rate]%, which totals a maturity amount of Rs [amount].

[Explain your situation briefly – a medical emergency, accident expense, house repair due to damage, etc.]

Due to this [financial/medical] emergency, I have inadequate funds to meet the expenses. Please allow the premature closure of my FD account.

Please waive off or charge minimum penalties on closure so I can withdraw the principal and accrued interest urgently to meet my financial needs. I’m sharing the necessary supporting documents here.

Please feel free to contact me at +91-xxxxxxxxxx for any clarifications needed to process this request as soon as possible.

Encl: Supporting documents

Briefly explain your situation and financial constraints while requesting to waive off penalties. Submit relevant proofs to validate your emergency.

Application for Fixed Deposit Closure for Investment Opportunities

Sometimes, better investment avenues that provide higher returns may arise. Here is how you can request to close your existing FD and reinvest funds:

[Bank Branch]

Subject: Application for Fixed Deposit closure to reinvest funds

I, [Your name], hold a Fixed Deposit account [FD account number] at your branch, which was opened on [date] for a tenure of [1/2/3 years] years at an interest rate of [rate]%.

Recently, my [relationship] informed me about some [property purchase/stock market investment] opportunity that promises [higher / better] returns compared to my existing FD account’s interest earnings.

I request that my Fixed Deposit account be closed to reinvest the maturity proceeds into this new [real estate/equity] opportunity for better wealth creation. Please deduct the minimum pre-closure penalty and provide me closure proceeds as soon as possible to avail of this time-bound offer.

Don’t hesitate to contact me on my mobile number, +91-X, in case any clarification or documents are required from my end to process this request.

Briefly explain the new investment opportunity and expected higher gains to justify your closure request logically. Submitting any proof of such offers will add more credibility.

Application to Revoke Fixed Deposit Auto-renewal and Request Closure

If you don’t wish to continue your FD account post maturity, write an application letter to the bank manager requesting cancellation of auto-renewal and closure of the account after maturity payment.

[Branch Address]

Subject: Request for Fixed Deposit Auto Renewal Cancellation and Account Closure

This is to inform you that I have a fixed deposit account [FD account number] with your branch. As per the FD agreement terms, the performance is set to auto-renew on maturity for the existing tenure.

However, I want to cancel my FD account’s auto-renewal option. Kindly ensure the account is not renewed automatically when it matures on [maturity date].

On maturity, please credit the principal plus accrued interest to date to my savings account [savings account number]. Post this, kindly close my FD account with your Bank permanently.

Please revert if you need any other supporting documents to process this request.

Clearly instruct the Bank not to renew your FD automatically, along with an account closure request after maturity payment proceeds are credited.

Application for Fixed Deposit Account Termination After Maturity Date

Here is how to formally request the closure of your fixed deposit account post-completion of its tenure:

Subject: Fixed Deposit Account Closure after Maturity

Please note that I hold a fixed deposit account [FD account number] at your [branch name]. The said FD account was opened on [date] for the tenure of [months/years] at [interest rate]% interest rate, which is set to mature on [maturity date].

My account shall complete its stipulated tenure next week upon maturity. Please credit the entire principal deposit amount and accrued interest for a full term to my Savings Account [savings account number] on [maturity date].

Post this payment, kindly close my FD account [FD account number] with your Bank permanently. Please revert if any other supporting documents are required from my end for this closure procedure.

[Your Signature]

Inform the Bank about your matured FD details while requesting account termination post-maturity payout. Keep the letter formal and polite for quick processing.

Application to Consolidate Multiple Fixed Deposits and Close Accounts

If you hold multiple FDs, here is how to request combining them into one consolidated FD account:

[Bank Name ]

Subject: Fixed Deposit Accounts Consolidation and Closure Request

I have been banking with your esteemed branch for the past [years] and hold [number] fixed deposit accounts as per the following details:

FD Account No.

Maturity Date

Current Value

Interest Rate

Rs [amount]

To simplify management, I want to consolidate all my existing FDs into one Fixed Deposit account. Request you to combine all my FDs into one consolidated account with an aggregate principal value of Rs [total amount].

Please set the new consolidated FD for [1/2/3 years] tenure at the maximum interest rate applicable. Also, please close my individual FD accounts post successful funds transfer into the new consolidated account.

Please confirm the latest procedural formalities for FD consolidation and associated charges, if applicable. Eagerly await your response.

Furnish all your existing FD details in a table for clarity. Specify tenure, interest rate desired for new consolidated accounts, and closure requests for old accounts.

Fixed Deposit Closure Application Letter to Bank Manager With Pictures

How to Write Fixed Deposit Closure Application Letter to Bank Manager

Follow these quick steps to draft a practical fixed deposit account closure request application to your Bank:

• Open with Salutation – Start by formally addressing your bank manager with a ‘Dear Sir/Madam’ salutation.
• Mention Account Details – Provide your complete FD account details like account number, date opened, tenure, interest rate, etc.
• Reason for Closure – Outline specific reasons for submitting the FD closure request application.
• Supporting Documents – Furnish copies of supporting documents like medical bills, termination letters, etc., based on closure reason.
• Closure & Settlement Request – Request the bank manager to process FD account closure and settlement of maturity proceeds into your savings account.
• Signature & Contact Info – Close the letter with your name, signature and contact details for further communication.

Being polite, highlighting the urgency for funds (if applicable), and enclosing relevant documents can significantly improve the chances of approval. Adapt provided samples and follow guidelines to quickly draft an effective FD account closure application letter suitable to your specific requirements!

We hope this comprehensive guide with detailed samples for different scenarios helps you easily write an appropriate fixed deposit closure application letter to your bank manager without any hassles. Remember to be polite, explain the rationale clearly, and enclose supporting proofs wherever feasible to fast-track closure approval! Let us know if you have any other queries.

What documents are required for a fixed deposit closure request?

Ans. The Bank may request documents like FD account statements, ID/address proofs, PAN, supporting proofs like medical bills, etc., for closure.

How much time does the Bank take to close an FD account?

Ans. Banks usually process FD account closure requests within 5-7 working days after letter submission and any other documents sought.

Can I get my FD money back before the maturity date?

Ans. Yes, you can submit a request for premature FD closure in case of emergency, though banks may levy penalty charges on the principal amount.

What happens if the FD account auto-renewal is not canceled before maturity?

Ans. If auto-renewal is active and not revoked before maturity, the FD amount will be automatically reinvested post-tenure for the existing lock-in period.

Also Reads,

Bilal Rafique, the person behind Ilmhere.com, works hard to create real and detailed educational content that helps people get better at English. Ilmhere.com is a website where you can learn English online. It covers lots of topics like English grammar, how to write applications, and other useful things to make learning easier.

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Fixed Deposit Closing Letter Sample before/after Maturity

A Fixed Deposit (FD) closing letter is a document that is used to close a fixed deposit account before or after its maturity date. It is a formal request made by the depositor to the bank or financial institution to withdraw their funds and close the account. A sample of a fixed deposit closing letter before maturity may include a request to prematurely withdraw the funds, along with any applicable penalties or charges.

A sample of a fixed deposit closing letter after maturity may include a request for the bank to disburse the maturity amount and close the account. It is important to ensure that all necessary information, such as account details and identification, is included in the letter to avoid any delays in processing the request.

Date : _________

From   (insert Name of the Account/ FD holder) (insert Address insert Phone Number)

To The Branch Manager (insert Name of the Bank) (insert Name of the Branch) (insert Address)

Sub .: Surrender of fixed deposit for withdrawal of money

Dear Sir/Madam,

I am writing to inform you that I have a savings account with your bank bearing the number [insert account number] at [insert branch name] branch. I currently have one fixed deposit with your bank bearing number [insert FD number] for a sum of [insert amount], which is maturing on [insert maturity date].

I hereby submit my request to you to kindly close the said fixed deposit and credit the proceeds to my savings account number [insert account number].

I declare that I have read and understood the terms and conditions of your bank for this purpose on fixed deposits and I agree to abide by the same.

I am enclosing herewith the original copy of the fixed deposit receipt. A copy of my PAN card self-attested by me is also enclosed herewith for verification purposes.

Kindly process my application at the earliest.

Thanking you, Yours faithfully,

(insert signature) (insert Name of the Account/ FD holder)

Enclosure: (1) Original FD receipt (2) PAN card signed copy

Read More: Application for Discharge Certificate Sample

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Letter to Bank for closing Fixed Deposit FD before/after Maturity

Most banks will not entertain requests for withdrawal of fixed deposit money before the maturity date. If you still request a withdrawal, you might lose a significant portion of the interest on it. The bank may even totally waive it as per its terms and conditions.

However, there can be situations when people need to close their FD account before maturity. For example, they may need the money for emergency purposes, or they might have found a better investment opportunity. In such cases, they can write a letter to the bank requesting to close their FD account.

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Fixed Deposit Closing Letter Sample: A Comprehensive Guide

You might have invested in a fixed deposit at some point, and the time has come to close it. This article aims to provide a comprehensive guide on writing a fixed deposit closing letter. It will also provide you with sample formats that you can use to write a professional letter to your bank.

A fixed deposit is a popular investment option for people who want to earn a fixed interest rate on their money for a specific period. When the deposit matures, you can renew it or close it and withdraw the money. If you have decided to close your fixed deposit account, you must inform your bank through a formal letter.

How to Write a Fixed Deposit Closing Letter

When writing a fixed deposit closing letter, you must ensure it is professional and concise. The letter should clearly state your intention to close the account, the reason for the closure, and any other relevant information. Here is a step-by-step guide on how to write a fixed deposit closing letter:

1. Start with a proper salutation.

The letter should start with a proper salutation, such as “Dear Sir/Madam” or “To Whom It May Concern.”

2. Provide your details.

You need to provide your details, such as your full name, account number, and contact information.

3. State your intention to close the account.

In the opening paragraph, state your intention to close the fixed deposit account. You can use a sentence like “I am writing to inform you that I wish to close my fixed deposit account.”

4. Mention the reason for the closure.

In the next paragraph, you should mention the reason for the closure. This could be due to maturity, urgent financial needs, or other reasons. Be specific and concise.

5. Provide instructions for the transfer of funds.

If you want the funds to be transferred to your savings or current account, you should provide clear instructions on how the transfer should be made. You can also request a cashier’s check or a wire transfer.

6. Express gratitude.

In the final paragraph, express your gratitude to the bank for their services. You can use a sentence such as “Thank you for your excellent services throughout my fixed deposit account duration.”

7. Close with a proper closing.

The letter should end with a proper closing, such as “Sincerely” or “Yours Faithfully,” followed by your name and signature.

Similar Post: Request Letter to Bank for Cancellation/ Closing of Credit Card

Date: ………………

(Name of the Account/ FD holder)

(Phone Number)

The Branch Manager

(Name of the Bank)

(Name of the Branch)

Sub.: Surrender of fixed deposit for withdrawal of money

Dear Sir/Madam,

I want to request the early withdrawal of my fixed deposit amount from the bank. The fixed deposit was made on (date) for a tenure of (xx months/years). However, due to some unforeseen circumstances, I cannot keep the fixed deposit until maturity.

I understand that there may be a penalty for withdrawing the fixed deposit before maturity. I am willing to pay the penalty fee per the bank’s rules and regulations. I have enclosed all the necessary documents required for this process.

I would appreciate it if you could process my request at the earliest. If you have any questions, please do not hesitate to contact me at (contact number).

Thanking you,

Yours faithfully,

(Signature)

(1) Original FD receipt

(2) PAN card signed copy

In conclusion, writing a high-quality fixed deposit closing letter can be crucial to maintaining good relationships with banks and financial institutions. A well-written letter can ensure that all the formalities are completed and the money is safely transferred to the designated account.

To write an effective fixed deposit closing letter, it is essential to follow a few guidelines:

• Include all relevant information about the fixed deposit, including the account number, the name of the account holder, and the amount to be withdrawn.
• Provide details about the account where the money will be transferred, such as the account number and the account holder’s name.
• Express gratitude towards the bank and financial institution for their services.

This article has helped you better understand how to write a fixed deposit closing letter. Remember, a well-crafted letter can make all the difference in ensuring a smooth transaction and maintaining good relationships with banks and financial institutions.

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19+ FD Closure Letter Format – Explore Writing Tips, Examples

• Letter Format
• March 22, 2024
• Request Letters , Bank Letters , Legal Letters

FD Closure Letter Format: A FD Closure Letter Format is a formal communication sent by an individual or organization to a bank or financial institution requesting the closure of a Fixed Deposit account . This FD Closure Letter Format is typically sent when the depositor needs to withdraw the funds from the account before the maturity date .

A Fixed Deposit (FD) account is a type of savings account where the depositor agrees to keep a fixed amount of money with the bank or financial institution for a specific period of time, usually ranging from a few months to several years . The interest rate offered on a Fixed Deposit is generally higher than that offered on a regular savings account .

However, there may be situations when the depositor needs to withdraw the funds from the FD account before the maturity date. In such cases, the depositor must inform the bank or financial institution and request the closure of the account. This is where the FD Closure Letter Format comes into play.

The FD Closure Letter Format must be written in a formal tone and include all the necessary details, such as the name of the depositor, account number, and the reason for the closure. It is important to clearly state the date on which the account should be closed and the mode of payment for the withdrawn amount.

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FD Closure Letter Format Writing Tips

Content in this article

When an individual or a business wants to close a fixed deposit (FD) account with their bank, they will need to write a formal FD Closure Letter Format to inform the bank of their decision. While this may seem like a straightforward task , there are certain tips and considerations to keep in mind when drafting an FD closure letter. In this article, we will discuss the essential elements of an FD Closure Letter Format and provide tips to help ensure that your Request letter is effective.

• Include the Account Details : The first and most crucial aspect of your FD closure letter is to provide the account details. This should include the account number, account holder’s name, and any other relevant details such as the branch where the account was opened. Providing these details will ensure that the bank can easily locate and close the account in question.
• State the Reason for Closure: It is essential to state the reason for closing the account. This could be due to a variety of reasons, such as financial difficulties, a change in investment plans, or simply because the account has matured. Stating the reason for closure will help the bank understand your situation and may even offer you alternative investment options.
• Request for Account Closure: The next step is to make a request for the account closure. Be clear in your language and state that you want the bank to close the FD account. This will ensure that there is no confusion or misunderstandings between you and the bank.
• Provide Contact Information: It is important to provide your contact information, such as your phone number and email address. This will help the bank to contact you if there are any issues or questions regarding your account closure request.
• Signature and Date: Finally, your FD closure Bank letter should include your signature and the date. This will provide proof that you have authorized the account closure request and ensure that the bank can process your request promptly.

FD Closure Letter Format – Sample format

Below is a sample format of FD Closure Letter Format:

[Your Name] [Your Address] [City, State, Zip Code] [Your Email Address] [Your Phone Number] [Date]

[Bank/Branch Manager’s Name] [Bank/Branch Name] [Bank/Branch Address] [City, State, Zip Code]

Subject: Closure of Fixed Deposit Account No. [Your Account Number]

Dear [Bank/Branch Manager’s Name],

I hope this letter finds you well. I am writing to inform you of my decision to close my Fixed Deposit (FD) Account No. [Your Account Number] with your esteemed bank.

Please find below the details of my FD account:

Account Holder’s Name: [Your Name] Account Number: [Your Account Number] Principal Amount: [Principal Amount] Maturity Date: [Maturity Date] Current Balance: [Current Balance]

I would like to request the closure of this account and the transfer of the remaining balance to my savings account [Savings Account Number]. Kindly process the closure at your earliest convenience and initiate the transfer to the specified savings account.

I would also appreciate it if you could provide me with a confirmation letter stating the closure of the FD account and the transfer of funds to my savings account for my records.

Thank you for your prompt attention to this matter. Please do not hesitate to contact me if any further information is required.

[Your Name]

FD Closure Letter Format – Example

Here’s an Example of FD Closure Letter Format:

I hope this letter finds you well. I am writing to inform you of my intention to close my Fixed Deposit (FD) Account No. [Your Account Number] with your bank.

I kindly request you to close the above-mentioned FD account and transfer the remaining balance to my savings account [Savings Account Number]. Please ensure that all interest accrued up to the closure date is included in the transfer.

I would appreciate it if you could confirm the closure of the FD account and the transfer of funds to my savings account via email or postal mail.

Thank you for your prompt attention to this matter. Should you require any further information or documentation, please do not hesitate to contact me.

FD Closure Letter Format – Example 

Basic FD Closure Letter Format

Here is a Basic FD Closure Letter Format

[Your Name] [Your Address] [City, State Zip Code] [Date] [Bank Name] [Branch Name] [City, State Zip Code]

Dear Sir/Madam,

I am writing to request the closure of my fixed deposit account [Account Number] with immediate effect. The reason for this request is [state reason]. I kindly request you to transfer the funds to my savings account [Savings Account Number] as soon as possible.

I would like to thank you for the services provided during my tenure with your bank.

[Your Signature] [Your Name]

FD Closure Letter Format with Request for Cheque

Here’s a FD Closure Letter Format With Request For Cheque:

I am writing to request the closure of my fixed deposit account [Account Number] with immediate effect. The reason for this request is [state reason]. I kindly request you to issue a cheque for the outstanding balance in the account and mail it to my address [Your Address].

FD Closure Letter Format – Template

Here’s a Template of FD Closure Letter Format:

I am writing to request the closure of my Fixed Deposit (FD) Account No. [Your Account Number] with your esteemed bank. Please find the details of my FD account below:

I kindly request you to process the closure of this FD account and transfer the remaining balance to my savings account [Savings Account Number]. I would appreciate it if you could provide me with a confirmation letter stating the closure of the FD account and the transfer of funds to my savings account.

Thank you for your prompt attention to this matter. Should you require any additional information, please feel free to contact me.

FD account closure letter due to emergency

Here’s a FD account closure letter due to emergency:

[Bank Manager’s Name] [Bank Name] [Bank Address] [City, State, Zip Code]

Dear [Bank Manager’s Name],

I am writing to you with a sense of urgency regarding my Fixed Deposit (FD) account, [Your FD Account Number], held with your esteemed bank. Due to unforeseen circumstances and financial emergency, I am compelled to request the closure of this account.

Account Holder’s Name: [Your Name] FD Account Number: [Your FD Account Number] Principal Amount: [Principal Amount] Maturity Date: [Maturity Date] Current Balance: [Current Balance]

I kindly request you to expedite the closure process and transfer the remaining balance to my linked savings account [Savings Account Number]. It is crucial that the funds be made available as soon as possible to address the emergency situation.

Additionally, I would appreciate receiving a confirmation letter from the bank once the closure and transfer have been successfully processed.

Thank you for your understanding and prompt attention to this matter. Should you require any further information or documentation, please do not hesitate to contact me.

FD Account Closure Letter Due to Emergency

FD closure letter to bank manager

This is a FD closure letter to bank manager:

I hope this letter finds you well. I am writing to formally request the closure of my Fixed Deposit (FD) account with your esteemed bank.

I kindly request you to initiate the closure of my FD account and transfer the remaining balance to my savings account [Savings Account Number]. Please ensure that all accrued interest up to the closure date is included in the transfer.

Additionally, I would appreciate receiving a confirmation letter from the bank confirming the closure of the FD account and the transfer of funds to my savings account for my records.

FD Closure Letter to Bank Manager

Letter to close FD account due to maturity

Here is a Letter to close FD account due to maturity:

I am writing to inform you that my Fixed Deposit (FD) account, [Your FD Account Number], with your esteemed bank is reaching its maturity date. In light of this, I would like to proceed with the closure of the account and the withdrawal of funds.

Please initiate the closure process and transfer the matured amount along with the accrued interest to my linked savings account [Savings Account Number].

Additionally, I kindly request a confirmation letter from the bank confirming the closure of the FD account and the transfer of funds to my savings account.

Letter to Close FD Account Due to Maturity

Email Format about FD Closure Letter Format

Here’s an Email Format of FD Closure Letter Format:

Subject: Request for FD Account Closure – [Account Number]

Dear [Bank Name],

Please find attached a copy of my ID proof for verification purposes. Kindly let me know if any additional documentation is required.

Sincerely, [Your Name]

FD Closure Letter Format with Change of Address

This is a FD Closure Letter Format With Change Of Address:

[Your Name] [Your Old Address] [City, State Zip Code] [Date] [Bank Name] [Branch Name] [City, State Zip Code]

I am writing to request the closure of my fixed deposit account [Account Number] with immediate effect. The reason for this request is [state reason]. I kindly request you to transfer the funds to my savings account [Savings Account Number] and to update my address to [Your New Address].

FD Closure Letter Format with Joint Account Holder

This is a FD Closure Letter Format With Joint Account Holder:

I am writing to request the closure of our joint fixed deposit account [Account Number] with immediate effect. The reason for this request is [state reason]. We kindly request you to transfer the funds to our joint savings account [Savings Account Number] as soon as possible.

We would like to thank you for the services provided during our tenure with your bank.

[Joint Account Holder’s Signature] [Joint Account Holder’s Name]

FAQS About FD Closure Letter Format – Explore Writing Tips, Examples

What information should be included in an fd closure letter.

An FD closure letter should include details such as your name, address, FD account number, principal amount, maturity date, current balance, and a formal request for the closure of the account.

How do I address the recipient of an FD closure letter?

If you’re writing to the bank manager, you can address them as “Dear [Bank Manager’s Name]” or “To the Bank Manager.” Ensure to use a formal salutation appropriate for business correspondence.

What should I mention in the body of the letter?

In the body of the letter, specify your intention to close the FD account, provide relevant account details, request the transfer of funds to your savings account, and express gratitude for their assistance.

Is it necessary to mention the reason for closing the FD account?

It’s not always necessary to mention the reason for closing the FD account, especially if it’s due to maturity. However, if there’s a specific reason such as financial emergency or reinvestment, you may choose to include it.

How can I ensure my FD closure letter is formal and professional?

To ensure your FD closure letter is formal and professional, use a clear and polite tone, avoid using slang or informal language, and proofread the letter for any errors before sending it.

Can I request a confirmation letter from the bank after closing the FD account?

Yes, it’s common to request a confirmation letter from the bank confirming the closure of the FD account and the transfer of funds to your savings account. This serves as proof of the transaction for your records.

Writing an FD Closure Letter Format may seem like a simple task , but it is crucial to get the details right. By including the essential elements of an FD Closure Letter Format and following these tips, you can ensure that your letter is effective and that your account closure request is processed smoothly . Remember to be clear and concise in your language and to provide all relevant details to ensure that your letter is successful .

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How to close a bank fd: forms and documents to be submitted, interest rate.

How to close a bank FD (whether opened online or offline by visiting a bank branch), both on maturity and premature closure.

Closure of FD on maturity

• Auto-renew : On the due date, the bank may renew the FD automatically for one year or for the original term of the FD.
• Auto liquidation: On the due date, the FD gets liquidated and the bank transfers the proceeds to the savings account.

Premature closure of FD

• Partial closure: For the deposit amount remaining after the part withdrawal, interest rate will be reset as the rate applicable for the amount remaining, for the original tenure, as prevailing on the date of opening of the deposit.
• Full closure and reinvestment into new FD: In case of the fixed deposit being prematurely closed for the purpose of reinvestment into another scheme of fixed deposit, the existing deposit would be subject to penal rate of interest as prescribed by the bank on the date of deposit. Interest will be paid for the period the deposit has remained with the bank. The interest rate prevailing on the date of re-investment of term deposit will be applicable for the new term deposit.

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• Letter Writing
• Formal Letter Writing In English
• Application for Closing Bank Account

Application for Closing Bank Account - Letter Format with Sample Letters

Do you have a bank account that is not used or an account that you are not able to maintain? This article will give you the reasons why you should close your bank account. Sample account closing letters are also given for your better understanding.

Table of Letters

Why close a bank account, format of an account closing letter, sample 1 – current account closing letter, sample 2 – letter to bank manager for closing account, sample 3 – bank account closing letter.

• FAQs on Bank Account Closing Letter Format

The reasons to close a bank account can vary from person to person. Most common reasons include no proper response or service, fees being charged unnecessarily, c online services, etc. It can also be because you cannot maintain the account, need the money or simply that you would like to start a fresh account.

Sometimes, it happens otherwise too. The bank closes your account because your account remained inactive for a very long period of time, you have had zero balance over a period of time, you have too many bounced checks or overdrafts, you have been subjected to identity theft, etc.

How to Write a Letter to Close a Bank Account?

Every time you wish to open or close a bank account, you would be required to write a letter to the bank manager stating the reasons for the same. To help you with it, here are some sample letters.

The Branch Manager

Name of the Bank

Bank Address

Sir/ Ma’am,

Body of the letter

Thanking you

Yours faithfully,

Signature of the Account Holder

Name of the Account Holder

The Manager

South Indian Bank

Coimbatore- 641022

Subject: Request for closing current account

I am Sneha, and I hold a Current Account in your bank. I have not been able to maintain the account for a few months now due to some personal reasons, and so I would like to close the account. I am enclosing the account passbook along with this letter. Kindly do the needful and initiate the closing process as soon as possible.

Thanking you.

State Bank of India

Chennai – 600054

Subject: Request to close account

I hold an account with the account number 0305000002356032 at your bank. I have been transferred to Bangalore, and so I will have to close the account as I would not be able to access the account. Kindly clear all the transactions with this account and transfer the balance to another account (Account number: 0201000023642365 IFSC Code: SBIL0000201).

Thank you in advance.

Yours sincerely,

Thara Sudhan

Union Bank of India

Koramangala Branch

Bangalore – 600023.

25 th March, 2021

Subject: Closure of savings account

I am Rudhra, and I have a savings account with the account number 2312000023564932 at your branch. I am moving to Chennai for personal reasons, and so I would like to close my savings account and withdraw the amount. I request you to kindly do the needful and close my account at the earliest as I will be leaving next week.

I am enclosing herewith the bank passbook, the identification and address proof for your reference.

Rudhaprasad

Frequently Asked Questions on Bank Account Closing Letter Format

How do i write a letter to close my bank account.

You have to address the letter to the branch manager of the respective bank. Start with the correct address of the bank, subject, salutation, body of the letter stating the reason for the closure of the bank account, complimentary closing, signature and name. Make sure you provide the exact account number and other details necessary accurately.

How can I close my bank account permanently?

To close your bank account permanently, you have to visit the bank and enquire about the process of closing a bank account and then write a letter to the branch manager by providing the reasons for closing the account. Also, provide the required documents for proof and verification.

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Home » Letters » Bank Letters » Premature Fixed Deposit Withdrawal Application – Fixed Deposit Closure Letter Before Maturity

Premature Fixed Deposit Withdrawal Application – Fixed Deposit Closure Letter Before Maturity

Table of Contents:

• Sample Letter

Live Editing Assistance

How to use live assistant, additional template options, download options, share via email, share via whatsapp, copy to clipboard, print letter, letter for premature closure of fixed deposit account.

To, The Branch Manager, ______ (Bank Name) ______ (Branch) ______ ( Branch Address)

Date: __/__/____ (DD/MM/YYYY)

Subject Premature Closure of Fixed Deposit No. _______ (Fixed Deposit Number)

l am holding a Fixed Deposit A/C No. ____ (FD Number) in the name of ____ (Name). My fixed deposit no. ________ which is due for maturity on ______ (date of maturity). I need this money for _______ (personal) reasons.

Kindly close the FD before maturity and credit the amount in my _______ (type of account) account No. ____ (Account Number). I hereby enclosing FD Receipt/ FD Bond / FD Advice and KYC document /Customer request form (if applicable) with the application for fixed deposit closure.

Thanking You,

Signature: ________ Name: ________ Contact: ________

• FD Receipt/ FD Advice
• KYC Documents (if applicable)
• Customer Request Form (if applicable)

Live Preview

The Live Assistant feature is represented by a real-time preview functionality. Here’s how to use it:

• Start Typing: Enter your letter content in the "Letter Input" textarea.
• Live Preview: As you type, the content of your letter will be displayed in the "Live Preview" section below the textarea. This feature converts newline characters in the textarea into <br> tags in HTML for better readability.

The letter writing editor allows you to start with predefined templates for drafting your letters:

• Choose a Template: Click one of the template buttons ("Start with Sample Template 1", "Start with Sample Template 2", or "Start with Sample Template 3").
• Auto-Fill Textarea: The chosen template's content will automatically fill the textarea, which you can then modify or use as is.

Click the "Download Letter" button after composing your letter. This triggers a download of a file containing the content of your letter.

Click the "Share via Email" button after composing your letter. Your default email client will open a new message window with the subject "Sharing My Draft Letter" and the content of your letter in the body.

Click the "Share via WhatsApp" button after you've composed your letter. Your default browser will open a new tab prompting you to send the letter as a message to a contact on WhatsApp.

If you want to copy the text of your letter to the clipboard:

• Copy to Clipboard: Click the "Copy to Clipboard" button after composing your letter.
• Paste Anywhere: You can then paste the copied text anywhere you need, such as into another application or document.

For printing the letter directly from the browser:

• Print Letter: Click the "Print Letter" button after composing your letter.
• Print Preview: A new browser window will open showing your letter formatted for printing.
• Print: Use the print dialog in the browser to complete printing.
• Yes, it's possible to request premature closure of a fixed deposit for urgent financial needs or other valid reasons.
• Enclose documents such as the FD Receipt/Bond/Advice and KYC documents along with a customer request form if applicable to support your request.
• Address the recipient as "The Branch Manager" or "Dear Sir/Madam" if you're unsure of their name.
• Yes, include the subject "Premature Closure of Fixed Deposit No. [Fixed Deposit Number]" to clearly indicate the purpose of the letter.
• Clearly state your fixed deposit account number, the reason for premature closure, and provide details of the account where you want the funds to be transferred.

Incoming Search Terms:

• application for premature breaking fd
• application for premature withdrawal of fd
• fd closure request letter to bank
• fd foreclosure letter

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Request Letter for Early Loan Settlement – Sample Letter Requesting for Pre-closure of Loan

Privacy overview.

Application for Closing Bank Account

Sometimes you have got to close your bank account for various reasons. You need to draft an application for closing bank account properly. Along with it, you need to attach a few important documents as well. This article let us learn how to write an application for closing bank account, the guidelines to be followed and a few sample letters to understand the topic in depth.

To close your bank account, you must write an application letter to the manager of your respective bank branch. Along with the application, you must also include/attach the documentation required to shut your account, such as a passbook, chequebook, ATM card (debit/credit), identity proof and so on. It is also important to mention the reason for closing your bank account.

A person’s bank account might be closed for a variety of reasons. Some common causes include difficulties maintaining several accounts, inadequate response or service, unnecessarily charged fees, personal or financial troubles, the death of a family member, an untrustworthy online service, or an inability to maintain a minimum balance.

Guidelines to follow before Closing your Bank Account

• It is critical to double-check your account balance before closing it.
• Check your balance and then write a cheque to withdraw your money.
• Before requesting closure, ensure that all of your transactions and bank-related operations have been completed.
• Using an ATM card may result in less than 500 remaining. Hence, use a cheque whenever emptying the money in your bank account.
• Deposit or destroy a blank chequebook and ATM card for security and personal reasons.
• Confirm that your account has been closed.

Format for Application for Closing Bank Account

The Branch manager

Bank Address

Subject: Application to Close Bank Account

Body of the letter: Mention the reason for closing the bank account, also mention the required bank details such as account number, member ID, passbook, identity proof, etc.

Complimentary Closing

Sender’s Name

Application for Closing Bank Account Samples

Sample 1 – letter for closing current account.

The Branch Manager

State Bank of India

SV Road Branch

12 th October 2022

Subject: Request for Closing Current Account

Respected Sir/Madam,

My name is Ramesh Pawar and I am holding a Current Account in your bank. I would like to close my account because I am having difficulties in maintaining multiple bank accounts. Along with this letter, I am submitting the account passbook and my identity confirmation. Please perform the necessary and begin the closing procedure as soon as feasible.

Thanking you.

Yours Sincerely,

Ramesh Pawar

(Attach original passbook and identity copy)

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Sample 2 – Letter for Closing Savings Account

Dhana Lakshmi Bank

MG Road Branch

18 th April 2022

Subject: Request for Closing Savings Account

Dear Sir/Madam,

My name is Rahul Tripathi and I have a savings bank account with you. XXXXXXXXXXXXXXX is my account number. I haven’t used my account in a long time and don’t need it right now.

As a result, I respectfully recommend that you close this bank account. I’ve attached all of the paperwork needed to close the bank account. If you can complete this in less time, I will be eternally thankful.

Yours truly,

Rahul Tripathi

Sample 3 – Letter for Closing Account Due to Excessive Charges

3 rd July 2022

Subject: Request for Closing my Bank Account

I’m requesting that you close my current account via this application since I’ve seen that unnecessary and excessive costs are being deducted from it over the past few days. Despite the fact that I have not engaged in any unusual transactions. My account information is as follows:

Account Holder’s Name:

Account No.:

Aadhar Card No.:

Registered Email:

Registered Mobile:

Along with my application, I will be returning my passbook, chequebook, and ATM cards. As a result, please accept my application and begin the process of terminating my account.

Kapil Dhuria

Sample 4 – Letter for Closing Account Due to Personal Reasons

Union Bank of India

Noida Branch

30 th September 2021

My name is Sakshi Malik, and I have a savings account at your branch with account number 1147693627569. Because I am relocating to Mumbai for personal reasons, I would like to liquidate my savings account and take the money. I would appreciate it if you could please terminate my account as soon as possible because I will be travelling next week.

For your convenience, I have enclosed the bank passbook, identity, and address evidence.

Yours faithfully,

Sakshi Malik

Frequently Asked Questions

Q1. What documentation is needed to close a bank account?

Answer. All account information, including account holder name, address, account number, associated mobile number, signature, original passbook and original chequebook (if issued). Your Identification Proof (Aadhar Card, Voter ID Card, Electricity Bill, etc.), Address Proof (Aadhar Card, Voter ID Card), and Debit Card / Credit Card are also required (if issued).

Q2. What is the average time it takes to close a bank account?

Answer. It is entirely dependent on your bank. Request that your bank manager performs this activity as soon as feasible. However, it just takes five to 10 days. However, in some government banks, this process can take up to two months.

Q3. Can a bank reinstate a previously closed account?

Answer. Yes, you can reopen a bank account that has been closed. However, whether you can reopen the bank account relies on the bank in specific situations.

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Application for Closure of Fixed Deposit (FD) Account – Sample Application for Fixed Deposit Withdrawal After Maturity

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Sample Letter for Premature Withdrawal of Fixed Deposit

The customers of the banks open Fixed Deposit Accounts in the same branches where they have Savings Accounts. However, due to the emergency, the customers may have to close the Fixed Deposit Account before maturity. The present article provides a sample letter for premature withdrawal of Fixed Deposit.

Sub: Request to prematurely close Fixed Deposit Account. Date: {Put the date here} From The customer (Name as per the bank record) Address {As per the bank record} To The Branch Manager XYZ Bank ABC Street New Delhi – 11000* Dear Sir/ Madam, I (name of the customer) hold the Savings Bank Account No. (indicate the Savings Bank Account No.) in your Branch. I would further like to state that I also opened a Fixed Deposit Account (indicate the Fixed Deposit Account No.) on (the date on which the Fixed Deposit was opened) depositing an amount of Rs. (put the principal amount). The tenure of the Fixed Deposit was (the tenure) years. However, I urgently need the money for some personal purpose. So you are requested to close my aforesaid Fixed Deposit account prematurely and transfer the entire amount (principal + accumulated interest) to my Savings Bank Account (Savings Account No.) maintained in your branch. Hoping for you to comply my request at the earliest. With regards. Yours sincerely, {Signature of the Customer} {Name of the Customer}

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Write it Well

Sample Letter To Bank For Fixed Deposit Placement

• By: Ray Martins
• Date: December 17, 2021
• Time to read: 2 min.

If you have some extra cash that you want to save, there are various ways that you can use to save your money. However, one of the best ways to save the extra money you have is by opening a fixed account with your local bank and depositing the money to the fixed account. If you got to your local bank and request that you want to open a fixed account, you could be asked to write a letter. In some cases, you can request for the sample of the letter from the bank. However, if you can’t get a sample, below is an example of a letter to bank for fixed deposit placement.

Sample letter of Fixed Deposit Account Placement

The Bank Manager

Name of Bank

Address and phone number of bank

Re: Application For A Fixed Deposit Account Placement

I have a current account in your bank for the last six years. The current account number is 5623157911487. I have been satisfied with the services offered by your branch and I intend to open a fixed deposit bank account with your bank where I will deposit a total sum of $ 15,000 for a period of two years. I have plans to expand my business in the next two years and thus hope to earn some interest from that money and use it in my business expansion project once two years lapse.

I would appreciate if you can process my request at your earliest convenience. I will be happy to meet all requirements. I have attached all the required documentation in this letter. In case you need anything else or you have any questions about my request, do not hesitate to call me at 784-78587-4587.

 I remain looking forward to a positive reply from you.

Kind Regards,

Emma Struthers.  

Email format Fixed Deposit Account Placement Letter

Dear Manager

It is my hope that this email finds you fine.

I am writing this email to request that you open a fixed account for me with your esteemed bank. I currently hold a current account with your bank for the last ten years. I have reviewed different fixed accounts offered by various banks and I have found that your fixed account would serve me best.

I have attached all the required documentation in this email and I hope that my request will be processed soon.

I look forward to a positive reply from you.

Joyce Janet.

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Here's What to Do When Your Bank Closes Your Account

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.

Having your bank account closed can be a bad surprise that causes long-lasting financial headaches.

Imagine you're about to pay for groceries. You swipe your debit card, only to discover that the charge was declined by your bank. You wonder why: you've never overdrawn your checking account, and you know there's plenty of money to cover the cost of the transaction. Only later do you learn that the bank has closed your account.

Banks can close your account without your permission, and without giving you advance warning. Here's what you need to know in case your bank closes your account.

Seven reasons why banks close accounts

Bank account closures can happen because of account inactivity, fees, suspected fraud, or other reasons. Here are seven common reasons why banks close accounts:

1. The account is inactive for too long

If you haven't used your checking account in several years, the bank may determine the account is abandoned and close the account.

2. The account has a negative balance

Many bank accounts have minimum balance requirements. If you fail to keep the lowest required amount of dollars in the bank, the bank could close your account.

3. There is suspected fraud on your account

If fraudulent activity is detected on your account -- whether you're suspected of committing fraud, or a victim of fraud and identity theft -- the bank could close your account. Contact your bank immediately if you see unauthorized charges on your account or other suspicious activity.

4. You have an excess of overdraft fees or account fees

Many banks do not charge overdraft fees anymore. But if your account is racking up bounced checks or other checking account service fees , and you don't have enough money in the account to cover those fees, the bank might respond by closing your account.

5. You violate a bank policy

If you run afoul of the fine print of your bank account terms and conditions, your bank could close your account. Bank policy violations could include using a consumer checking account for business purposes, or trying to exceed daily ATM withdrawal limits. If your bank account activity looks suspicious, this could lead to a bank account closure.

6. Too many withdrawals from a savings account

Regulation D is a Federal Reserve rule for bank savings accounts which limits customers to six "convenient transactions" (such as online transfers or overdraft protection) from your savings account per month.

Since the pandemic, banks have not been required to enforce Regulation D , so your bank might not be strict about this. But be careful: if your bank is enforcing Regulation D and you make more than six "convenient" withdrawals in a month, your savings account could be closed.

7. You have a criminal conviction

If you have previously gotten in trouble with the law, it's important to disclose this information when opening a bank account -- especially if your criminal record is related to financial crimes like wire fraud or money laundering.

Banks can close accounts of people who are convicted of crimes, or who did not disclose previous criminal convictions.

Compare checking accounts

We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts .

Does the bank have to notify you when it closes your account?

No. This might surprise you, but banks can close an account for any reason and are not required to provide notice.

Let's say you have several bank accounts and rarely use one of them. It's possible you won't know the bank account is closed until you try to get money out.

What happens to your money if a bank closes your account?

If you have money in the account at the time it's closed, the bank is required to return it to you minus any outstanding fees. If an automatic deposit goes into that account after it's closed, those funds must also be returned. Typically, the bank will send you a check.

If your account has been inactive for years and the bank doesn't know where to find you, the money may have been sent to the unclaimed property office in your state .

In this case, to get your money back, you'll need to contact the appropriate office in your state (such as the State Treasurer) and provide documentation to verify your identity.

How can a bank account closing impact your life?

Having a bank account involuntarily closed can be a hassle for years to come. Here's how:

When a bank closes an account because of an unpaid balance or suspected fraud, it's reported to a company called ChexSystems . Banks routinely request a report from ChexSystems before allowing a new customer to open an account. So if you have bad banking history in your ChexSystems report, this can make it difficult for you to open a new account with another bank.

Another negative effect of bank account closings happens if your account is closed due to an unpaid bank balance. That debt could be forwarded to a collection agency. If your unpaid bank fees go to collections, just like other unpaid debts on your credit history, that action is reported to the credit bureaus and can affect your credit score for up to seven years.

How to protect your reputation as a bank customer

Here are two steps you can take:

• Get a free copy of your ChexSystems report once a year. Look it over, and if you find any mistakes, dispute them with ChexSystems.
• As soon as you pay off any outstanding balances with your old bank, you can request to have the record removed from your ChexSystems report.

And even if you made a mistake, had a bank close your account for valid reasons, and cannot erase the bad mark on your ChexSystems report, you still have options. Some banks do not rely on ChexSystems to screen new customers, or offer special "second-chance banking" accounts for customers who are rebuilding their ChexSystems history.

What to do if you want to stay with the same bank that closed your account

Even if you're annoyed with your bank for closing your account, you still might want to keep banking there. After all, changing banks can be time-consuming, and your current bank might have other great accounts and products, like rewards credit cards, that you want to keep using.

If you decide that you want to stay with your bank after the bank involuntarily closed your account, here are three steps you can take:

• Find out why the account was closed. Call your bank and ask it to explain why it chose to close the account.
• Pay the balance. If the reason the account was closed was due to an unpaid balance, find out how much it is and pay it off.
• Ask to reopen the account. Once your account balance is settled, the bank may be willing to reopen it. If it's unable to do that, you can explore opening a new account with the same bank. If the bank won't allow you to open a new account, it's time to look for a new financial institution.

If you believe your bank account was wrongfully closed, contact the Office of the Comptroller's (OCC) Customer Assistance Group . You can also file a complaint with the Consumer Financial Protection Bureau (CFPB).

Having your bank account closed against your will is a stressful situation, and hopefully this will never happen to you. But mistakes and misunderstandings do happen.

Keep in mind that even if a bank closes your account, it's not the end of the world. You still have options to try to fix the problem, open a new bank account, or rebuild your ChexSystems report to get back in good standing as a bank customer.

Don't get caught paying nuisance checking account fees. Check out The Ascent's top checking account picks to open a fee-free checking account that earns a high interest rate.

Article sources

• https://www.experian.com/blogs/ask-experian/what-to-do-if-bank-closes-your-account/
• https://www.experian.com/blogs/ask-experian/reasons-bank-can-close-account/
• https://www.consumerfinance.gov/complaint/

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