How to Close ICICI Bank Fixed Deposit (FD) Online

ICICI Bank, like other private banks, offers competitive interest rates on their FD services. However, as an account holder, if you wish to liquidate your FD prematurely or close your account after its maturity period, you’ve come to the right place. Let’s take a look at how you can break an ICICI FD using various methods.

Online Method

• Use your details to log into ICICI net banking.
• Find and click on 'My Account' and then the 'Deposits' section.
• Next, click on 'Service Requests'.
• Find 'Request for' and choose 'Premature withdrawal of FD'. Then, hit 'Continue'.
• Ensure the details (FD account number, savings account details, and amount) are correct. Confirm your name.
• To approve the FD withdrawal, type in your debit card numbers.
• Enter the OTP sent to your phone number, then click 'Continue'.
• If the OTP is verified, you'll get a confirmation of the withdrawal or closure on your email and phone.
• The FD amount will be transferred to the savings account you chose when you requested.
• Note that it can't be cancelled once the closure request is made.

Offline method

• To close your ICICI Fixed Deposit (FD) in person, you must go to the nearest ICICI branch. 
• Ensure to take at least one proof of Identity. 
• At the branch, fill out the appropriate paperwork. 
• Make sure you fill in all the details correctly. 
• Once that's done, your FD will be closed, and the money, including the interest earned, will be put into your savings account.

Closing an FD account post-maturity depends on whether you’ve accepted a mandate for auto-renewal. Auto-renewal involves reinvesting your funds from your FD account into appropriate tenures.

If you’ve chosen an auto-renewal option when opening your account and change your mind later on, you can request to change your mandate before the maturity of your FD account.