Skip to content

How To Close (Break) Fixed Deposit In SBI Online

close SBI Fixed depoit

Sometimes we may need to close or break our FD account before the maturity date. This can be due to various reasons, such as financial emergency, better investment opportunity, or dissatisfaction with the service.

State Bank of India (SBI) has made it easier to close your fixed deposit account prematurely online through its net banking portal or its mobile app Yono SBI.

ADVERTISEMENT

In this article, you will get to know the following points on how to close (break) SBI fixed deposit account online,

Let’s see each of these points in detail.

Details required to close SBI Fixed Deposit (FD) online

You need the following details to close SBI Fixed Deposit online,

  1. Registered mobile number.
  2. SBI Internet banking username and password.

ADVERTISEMENT

In case you have forgotten your Internet Banking details, you can find your username and reset your password online.

Steps to close SBI Fixed Deposit (FD) through OnlineSBI

To close SBI FD using the net banking portal,

Step 1: Go to the official website of SBI Online

The SBI Online website homepage
SBI Online homepage
  1. First, go to the official website of SBI Internet Banking at onlinesbi.sbi
  2. Next, click on the ‘Login’ button under Personal Banking.
  3. Next, click on the ‘Continue to Login’ button.
  4. A new page opens up.

(Direct link to the page)

Step 2: Log in to your Internet Banking account

  1. On the new page, enter your internet banking username and password in the specified fields.
  2. Next, enter the captcha code and click on the ‘Login’ button.
  3. An OTP will be sent to your registered mobile number.
  4. Enter it in the specified field and click on the ‘Submit’ button.
  5. You will be logged in.

ADVERTISEMENT

Step 3: Open the ‘Fixed Deposit’ option

Fixed Deposit e TDRe STDR option
The ‘Fixed Deposit (e-TDR/e-STDR)’ option
  1. First, click on the ‘Deposit and Investment’ option.
  2. Next, click on the ‘Fixed Deposit’ option.
  3. Next, select the ‘Fixed Deposit (e-TDR/e-STDR)’ option.
  4. Next, click on the ‘Proceed’ button.
  5. A new page will open.

Step 4: Select the account

  1. Next, click on the ‘Close A/c Prematurely’ option.
  2. Next, select the ‘Account Number/Nick Name’ that is to be closed.
  3. Next, click on the ‘Proceed’ button.
  4. A new page will open.

ADVERTISEMENT

Step 5: Close (Break) FD

  1. Next, enter the ‘Remark’ in the specified field as ‘FD close’.
  2. Next, click on the ‘Confirm’ button.
  3. A high-security transaction password will be sent to the registered mobile number.
  4. Next, enter the ‘High-Security Password’ in the specified field.
  5. Next, click on the ‘Confirm’ button.

A page will appear that shows the FD has been successfully closed.

By following these steps, you can easily close (break) your fixed deposit account online through the SBI net banking portal.

Steps to close SBI Fixed Deposit (FD) through Yono SBI

To close a SBI Fixed Deposit account using the Yono SBI app,

Step 1: Open the YONO SBI App

  1. Download the Yono app from the Play Store or App Store.
  2. Log in to the app using your Internet Banking Username and Password or MPIN.
  3. The dashboard will open up.

(Link to download the app)

Step 2: Tap on the ‘Fixed Deposits’ option

  1. On the dashboard, scroll down and tap on the ‘Deposit’ option.
  2. Next, tap on the ‘Fixed Deposit’ option.
  3. A new page will open.

ADVERTISEMENT

Step 3: Select the account

  1. Next, tap on the Account Number box under ‘Domestic Currency’.
  2. A new screen will appear showing the Fixed Deposit details.
  3. Next, tap on the ‘Close Fixed Deposit’ button.
  4. Next, tap on the ‘OK’ button.

Step 4: Close the fixed deposit

  1. Next, tap on the ‘Confirm’ button. An OTP will be sent to your registered Mobile number.
  2. Next, enter the ‘OTP’ in the specified field.
  3. Next, click on the ‘Next’ button.
  4. A pop-up will appear.
  5. Next, click on the ‘OK’ button.

The FD will be closed successfully through these steps.

ADVERTISEMENT

By following these steps, you can easily close (break) your fixed deposit account online through the Yono SBI app.

You can also create a new fixed deposit or recurring deposit account online through the OnlineSBI or Yono SBI app

More articles about Banking

(Disclaimer: The information provided in this article is for educational purposes only. The screenshots/logos used are the intellectual property of the respective owners. dreamtrixfinance.com neither endorses nor is affiliated with the brands/websites mentioned. This is not financial advice.)

Tags: