How to Close HDFC Bank Fixed Deposit (FD) Online

Given their services and competitive interest rates, HDFC Bank has been one of the most sought-after private banks. Like most private banks, HDFC offers fixed deposit accounts for their customers, which have unique facilities within some schemes. If you’ve had an FD in HDFC that you want to close, don’t worry, you’re in the right place. Let’s look at how you can close an FD in different scenarios.

If you wish to withdraw funds from your FD account maturity date prematurely, here are the following steps that you need to follow:

Step 1: Log in to HDFC’s online banking portal or NetBanking,  using your NetBanking ID and password.

Step 2: Select the ‘Liquidate Fixed Deposit’ option on the left under the Fixed Deposit menu.

Step 3: Select the Fixed Deposit account number from the list that appears following the previous step.

Step 4: Click on Continue and ensure the details entered are right.

Assuming you’ve completed your maturity period, you can withdraw the funds from your FD account after following standard procedure. In general, HDFC FD accounts come with an ‘auto renewal’ feature, which involves reinvesting your money monthly, yearly, or quarterly.

However, if you do not want an ‘auto-renewal’ feature on your FD account, you can establish that before the account has been opened or the mandate can be changed before the maturity date.

The process for withdrawal before or after maturity is the same, given that the only varying factor here is the penalty calculation. This is done by the bank directly, and the corresponding amounts are transferred to your account directly.