WHAT IS FIXED DEPOSIT (FD) AND HOW TO CLOSE IT
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What is Fixed Deposit (FD) and how to close it?

Hello, friends welcome to INFOFRIENDLY. Today we will talk about what is Fixed Deposit (FD) and how to close it. And will know how to close the fixed deposit before the time limit. And what are the benefits and what are the disadvantages? And we will also know that how we will write the application to close the fixed deposit. And some information so that you will be able to understand fixed deposits better.

What is Fixed Deposit? advantages and disadvantages.

When we deposit any amount in the bank for a fixed time, then we call it fixed deposit.

Some do fixed deposits to double the money and some for a few years.

For example: – Someone made a fixed deposit of up to 7 years to double Rs 1 lakh.

In this case, the beneficiary will get 2 lakhs after 7 years. If someone wants to withdraw that money before 7 years, then he can withdraw it, but in this, he will have to bear the loss. He will get money according to the interest rate of that time, which is very less.

Application for close Fixed Deposit (FD) – 

To,

The Bank Manager

Bank Name,

Branch, District

Date-DD-MM-YYYY

Subject – Fixed deposit to break.

Sir,

I humbly request that I (my name) am an account holder of your bank. Due to some personal reasons, I need to break my fixed deposit of 11 lakhs.

That’s why you close my fixed deposit and deposit the money in my savings account. The information of which is given below.

Name                                           – (My name)

Account number                       – (Account number)

FD Commencement Date       – (FD Start Date)

FD Expiry Date                         – (FD Expiry Date)

 

So, I request you to close my fixed deposit as soon as possible. For this, we will always be grateful to you.

Yours sincerely

Name – (My name)

A / C no.  – (Account number)

Mo – (Your mobile no.)

Date –(DD-MM-YYYY) 

   (Sign)

You can also get a photo of this application.

What is Fixed Deposit (FD) and how to close it

Example: – Application for close Fixed Deposit (FD)

To,

The Bank Manager

State Bank of India

Bailey Road, Patna

Date – 08-06-2021

Subject – Fixed deposit to break.

sir,

I humbly request that I (Suresh Sahu) am an account holder of your bank. Due to some personal reasons, I need to break my fixed deposit of 11 lakhs.

That’s why you close my fixed deposit and deposit the money in my savings account. The information of which is given below.

Name                                        – Suresh Sahu

Account number                      – 12345678989

FD Commencement Date       – 09-01-2019

FD Expiry Date                       – 09-01-2025

 

So, I request you to close my fixed deposit as soon as possible. For this, we will always be grateful to you.

Yours sincerely

Name – Suresh Sahu

Account Number – 12345678989

IFSC – SBIN0003129

Mo – 9123456789

Date – 08-06-2021

    (Suresh Sahu)

Note: – Regarding Fixed Deposit.

After maturity, even if you want to close the fixed deposit, you will write the same application.

If you do not close the fixed deposit on maturity i.e. at the end of the time limit, then it will be activated again for the next session.

I told this thing that if you break the fixed deposit before the time limit, then it causes a lot of loss.

To avoid this, you can take a solution – that you should never make a fixed deposit of large amount at once.

Example: – You made a fixed deposit of 10 lakhs, for 7 years, and you need Rs 2 lakhs when it is 3 years old. So you have to break the fixed deposit completely, you cannot withdraw only 2 lakhs from it. This will cause you a lot of loss and again you will have to make a fixed deposit of the remaining money.

So the solution is that you make a fixed deposit of at least Rs.

Example:- 5 fixed deposits of 2 lakhs. You won’t get hurt in it, and it won’t hurt to break it if needed.

So, friends, this was the information and application about fixed deposits. I hope you must have liked this post.

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