There can arise a situation when you are required to close your FD account maintained with State Bank of India prematurely or say even after it matures but for the same you are not currently present in the city where your home branch is located. And so without much of hassle and worry, such a fixed deposit account can also be closed online.
Here is a step by step procedure to close SBI fixed deposit through the online mode:
1. Log in to your SBI net banking account by giving your confidential credential such as user Id and password.
2. Under fixed deposit option, click on e-TDR or e-STDR (FD). Here TDR is term deposit receipt, while STDR is special term deposit receipt. Now, you need to click on proceed.
3. Click on the option saying ' close account prematurely'
4. The page will list out the details of your FD account with the bank
5. You need to check on the FD account you wish to close and press the submit button
6. Here you need to also specify the reason as to why you wish to go for closure of the FD account at SBI. Now click on the confirm option.
7. You will then be in receipt of a high security password on your registered mobile number
8. Type the password and click on confirm option again
9. On the screen there will be a message which says ' your e-TDR or e-STDR account has been successfully closed'.
10. Upon closure of the account, the amount will be credited to your linked savings bank account.
SBI FD are available for 7 days to 10 year tenure and provide an interest rate in the range of 4.5-6.25%. Also, the bank beginning November 1 has revised interest rate on savings account for balance less than Rs. 1 lakh lower to just 3.25%.