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Home>Fixed Deposit>Union Bank of India>How to Close Union Bank Fixed Deposit (FD) Online
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How to Close Union Bank Fixed Deposit (FD) Online

Updated 08 Dec 2023

Have a Financial Emergency? Want to withdraw your FD prematurely? Do not worry; we got you covered. Here is the step-by-step process for a pre-mature withdrawal of your Fixed Deposit and getting your money at hand with the minimum penalty. Let’s look at different scenarios when you can redeem your FD investment.

How to close Fixed Deposit In Union Bank of India.

Here are the various modes through which you can break your FD.

 

For Premature Withdrawal of FD

 

  • Offline Withdrawal
  1. Visit your nearest bank branch,
  2. Place a request to withdraw your FD by filling out a form. 
  3. This method will credit the amount to your account within 24-48 hours.

 

  • Online Withdrawal
  1. Log in to the app or website,
  2. Choose the FD that you want to break, 
  3. Click on Premature Withdrawal,
  4. The amount will be credited within the same day.

For Withdrawal of your FD on Maturity

Assuming that your FD has reached its maturity date, you can either opt to withdraw the amount or renew the FD. You will be notified a week prior that your Fixed Deposit is maturing. You can renew it by visiting the bank branch or via net banking. To Withdraw, you can notify your bank, and the amount will be credited to your bank account on the maturity date.

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FAQs

Will there be any penalty for closing an FD before maturity?

Yes, Union Bank may levy a penalty for premature withdrawal of FD. The penalty rates can vary and are subject to change.

Can I partially withdraw from my FD?

The terms may vary, but typically you would need to break the entire FD. Consider opening multiple FDs with smaller amounts for more flexibility.

Will the bank inform me before deducting the penalty?

The penalty terms are usually mentioned when you open the FD. When starting the FD, it's always a good idea to inquire about premature withdrawal conditions.

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