application letter for premature withdrawal of fixed deposit

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Premature Fixed Deposit Withdrawal Application – Fixed Deposit Closure Letter Before Maturity

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To, The Branch Manager, ______ (Bank Name) ______ (Branch) ______ ( Branch Address)

Date: __/__/____ (DD/MM/YYYY)

Subject Premature Closure of Fixed Deposit No. _______ (Fixed Deposit Number)

l am holding a Fixed Deposit A/C No. ____ (FD Number) in the name of ____ (Name). My fixed deposit no. ________ which is due for maturity on ______ (date of maturity). I need this money for _______ (personal) reasons.

Kindly close the FD before maturity and credit the amount in my _______ (type of account) account No. ____ (Account Number). I hereby enclosing FD Receipt/ FD Bond / FD Advice and KYC document /Customer request form (if applicable) with the application for fixed deposit closure.

Thanking You,

Signature: ________ Name: ________ Contact: ________

• FD Receipt/ FD Advice
• KYC Documents (if applicable)
• Customer Request Form (if applicable)

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• Yes, it's possible to request premature closure of a fixed deposit for urgent financial needs or other valid reasons.
• Enclose documents such as the FD Receipt/Bond/Advice and KYC documents along with a customer request form if applicable to support your request.
• Address the recipient as "The Branch Manager" or "Dear Sir/Madam" if you're unsure of their name.
• Yes, include the subject "Premature Closure of Fixed Deposit No. [Fixed Deposit Number]" to clearly indicate the purpose of the letter.
• Clearly state your fixed deposit account number, the reason for premature closure, and provide details of the account where you want the funds to be transferred.

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Search letters formats here, letter to bank for closing fixed deposit fd before/after maturity.

submit your comments here

Thank you very much for the format.

Was helpful in writing my letter.

What if we just wanted to withdraw some amount after maturity of FD and then want to reinvest the remaining amount as fd

Then, at first, you will have to submit a request to mature the FD in full and after receipt of the maturity amount, you can keep whatever amount you want to keep out of it and open a new FD for the rest of the amount with the bank. Options to mature an existing FD and open a new FD are available both through online medium and at branch office.

Is it possible if nominee can request for FD withdrawal as the account holder is being hospitalized and money is required for same.

Generally, only after death of the FD holder, withdrawal is possible by the nominee by providing necessary documents. But if the FD holder is alive and hospitalised, you can get the FD withdrawal/maturity form signed from that person in the hospital and submit it to the bank. Some banks have made available the form online too. Please call at the customer care executive number of the bank or email them to know the exact process. If the FD was created online, you can use the netbanking website to mature the FD. An OTP might be sent in online withdrawal case.

Thank you Ramesh :)

If the fixed deposit is in joint name what to do for encashment of it prematurely?

Both holders' signatures will be required in application form. Please visit bank's branch office. They might have printed application form for you to fill up and submit.

Can I claim fd amount after 10 years ? And how

Yes, you may. But, please contact the bank for accurate procedure for this.

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Leave your comments and queries here. We will try to get back to you.

Fixed Deposit Closure Application Letter to Bank Manager (with Samples & PDFs)

I have listed sample templates to help you craft an effective and professional fixed deposit closure application letter to bank manager.

Also, I would like to point out that you can also download a PDF containing all the samples at the end of this post.

Fixed Deposit Liquidation Application to Bank Manager

First, find the sample template for fixed deposit closure application letter to bank manager below.

To, The Branch Manager, [Bank Name], [Branch Address], [City Name], [Postal Code]

Subject: Request for Closure of Fixed Deposit Account

Dear Sir/Madam,

I am writing this letter to bring to your attention that I wish to close my Fixed Deposit account with your esteemed bank. My Fixed Deposit account number is [Fixed Deposit Account Number].

The reasons for this closure are strictly personal and in no way reflect any dissatisfaction with the bank’s services. I have always appreciated the quality of service provided by [Bank Name], and it has been a pleasant banking experience for me so far.

I request you to kindly process my application at the earliest and arrange for the funds along with the accrued interest to be transferred to my savings account with the same bank. My savings account number is [Savings Account Number].

I understand that there may be some penalties or charges due to the premature closure, and I am ready to bear those, as per the bank’s policy.

Please let me know of any formalities or documents that I need to provide to facilitate the closure process. I am ready to visit the bank in person if required.

Thank you for your prompt attention to this matter. I apologize for any inconvenience this may cause to the bank.

Yours sincerely,

[Your Name] [Your Address] [City Name, Postal Code] [Phone Number] [Email Address]

Date: [Date of Writing]

Below I have listed 5 different sample applications for “fixed deposit closure application letter to bank manager” that you will certainly find useful for specific scenarios:

Application for Fixed Deposit Early Withdrawal Due to Financial Hardship

To, The Branch Manager, [Bank Name], [Branch Name], [Branch Address],

Subject: Application for Fixed Deposit Early Withdrawal Due to Financial Hardship

I, [Your Name], holding a Fixed Deposit account (A/C No: [Account Number]) with your esteemed bank, humbly request an early withdrawal of my fixed deposit due to unforeseen financial hardships.

The recent challenges, including the loss of my job and unexpected medical expenses, have caused a severe strain on my finances. In such a situation, I am left with no option but to withdraw my fixed deposit prematurely to manage my expenses and fulfill my financial obligations.

I understand that early withdrawal of fixed deposit will result in a reduced interest rate and may be subject to penalties as per the bank’s policy. However, under these circumstances, I kindly request you to consider waiving or reducing any penalties, if possible, to alleviate my financial burden.

I would appreciate your prompt assistance in processing the early withdrawal of my fixed deposit. Kindly let me know the necessary documentation and procedures to complete the process.

Thank you for understanding my situation, and I look forward to your favorable response.

Yours faithfully, [Your Name] [Mobile Number] [Email ID] [Address]

Application for Fixed Deposit Closure for Investment Opportunities

To, The Branch Manager, [Bank Name], [Branch Address],

Subject: Application for Fixed Deposit Closure for Investment Opportunities

Respected Sir/Madam,

I, [Your Name], holding a Fixed Deposit (FD) account with your esteemed bank, kindly request the closure of my Fixed Deposit account bearing number [FD Account Number]. The Fixed Deposit was initiated on [Date of FD Start] and is due to mature on [Date of FD Maturity].

I have decided to close the FD account prematurely due to some lucrative investment opportunities that I have recently come across. I believe that investing in these opportunities will yield better returns in the long run. I understand that closing the FD account before its maturity date may result in a reduced interest rate and a penalty, as per the bank’s terms and conditions.

Please find the original Fixed Deposit Receipt enclosed with this application. I kindly request you to close the FD account at the earliest and transfer the maturity amount (principal + accrued interest) to my savings account number [Savings Account Number] with your branch.

I would also like to apologize for any inconvenience this request may cause to the bank. I assure you that I have thoroughly evaluated the alternative investment options and made this decision after careful consideration. I appreciate your understanding and prompt assistance in this matter.

Thanking you.

Yours faithfully,

[Your Name] [Your Address] [Your Contact Number] [Date]

Application to Revoke Fixed Deposit Auto-renewal and Request Closure

To, The Branch Manager, [Bank Name], [Bank Branch], [City],

Subject: Application to Revoke Fixed Deposit Auto-renewal and Request Closure

I, [Your Name], am holding a Fixed Deposit (FD) account (FD Account No. [FD Account Number]) with your esteemed bank since [FD start date]. The fixed deposit is set to auto-renew on maturity, and the current maturity date is [Maturity Date]. However, due to my current financial requirements, I wish to revoke the auto-renewal option and request the closure of my fixed deposit account upon its maturity.

Kindly process my request and deposit the matured amount (including the interest earned) into my savings account (Account No. [Savings Account Number]) on the date of maturity. I would appreciate it if you could provide me with a written confirmation of the same at your earliest convenience.

Please let me know if any additional information or documentation is required to proceed with the request. I am enclosing a photocopy of my fixed deposit receipt for your reference.

Thanking you in advance for your assistance.

[Your Name] [Address] [Contact Number] [Email ID]

Application for Fixed Deposit Account Termination After Maturity Date

Subject: Application for Fixed Deposit Account Termination After Maturity Date

I, [Your Name], holder of Savings Account number [Account Number], had opened a Fixed Deposit Account bearing number [FD Account Number] on [Date of Opening] in your esteemed bank. The maturity date of the Fixed Deposit was [Maturity Date]. I now wish to terminate this Fixed Deposit Account post its maturity.

I kindly request you to close the said Fixed Deposit Account and transfer the maturity amount, along with any interest accrued, to my Savings Account number [Account Number]. I have attached a photocopy of my passbook, Fixed Deposit receipt, and a cancelled cheque for your reference.

Your prompt action in this matter would be highly appreciated. Kindly acknowledge the termination of my Fixed Deposit Account and inform me once the transfer of funds has been completed.

Thanking you in anticipation.

[Your Name] [Your Address] [City, Postal Code] [Phone Number] [Email Address]

Date: [Date of Application]

Application to Consolidate Multiple Fixed Deposits and Close Accounts

Subject: Application to Consolidate Multiple Fixed Deposits and Close Accounts

I, [Your Name], maintain multiple fixed deposit accounts at your esteemed bank. I would like to request the consolidation of these fixed deposits and the closure of the respective accounts.

The details of my fixed deposit accounts are as follows:

1. Account Number: [FD Account No. 1] Amount: [Amount 1] Date of Maturity: [Maturity Date 1]

2. Account Number: [FD Account No. 2] Amount: [Amount 2] Date of Maturity: [Maturity Date 2]

3. Account Number: [FD Account No. 3] Amount: [Amount 3] Date of Maturity: [Maturity Date 3]

Please consolidate the above fixed deposits and credit the total amount to my savings account (Account Number: [Savings Account Number]) upon the maturity of each fixed deposit. Subsequently, I request the closure of the above-mentioned fixed deposit accounts.

I am enclosing copies of my fixed deposit certificates as required. Kindly acknowledge this application and carry out the requested actions at the earliest. Please inform me when the consolidation and closure process is completed.

Thank you for your prompt attention to this matter.

[Your Name] [Your Address] [City, State, Postal Code] [Contact Number] [Email Address]

Date: [Date of Submission]

How to Write Fixed Deposit Closure Application Letter to Bank Manager

Some writing tips to help you craft a better application:

• Begin with your name, address, and contact details.
• Include the date of writing the letter.
• Add the bank manager’s name, bank name, and branch address.
• Choose an appropriate subject line such as “Request for Fixed Deposit Closure.”
• Start the letter with a formal salutation, like “Dear Sir/Madam.”
• Introduce yourself and mention your fixed deposit account number.
• Explain the reason for closing the fixed deposit account.
• Specify the maturity date of the fixed deposit.
• Request a prompt closure of the account and the balance to be transferred to your savings account or disbursed via check.
• If required, attach relevant documents for proof and reference.
• Provide your savings account details for the transfer.
• Thank the bank manager for their assistance and cooperation.
• Close the letter with a formal sign-off, like “Yours sincerely,” followed by your name and signature.

Related Topics:

• Application for Current Account Closure
• Loan Close Application
• SBI Account Closure Application

View all topics →

I am sure you will get some insights from here on how to write “fixed deposit closure application letter to bank manager”. And to help further, you can also download all the above application samples as PDFs by clicking here .

And if you have any related queries, kindly feel free to let me know in the comments below.

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Understanding the Concept of Premature Withdrawal in Fixed Deposits

15 March 2024 | By INDIE

Many individuals seek to supplement their regular income with passive earnings, and fixed deposits present a viable avenue for diversifying their investments. By opting for a fixed deposit, you can secure guaranteed returns over a specified investment period. Commonly referred to as term deposits, fixed deposits cater to a diverse demographic, including both working professionals and retired senior citizens. 

The tenure of fixed deposits spans from 7 days to 10 years. The interest rates associated with fixed deposits vary among banks and financial institutions, influenced by factors such as the investment duration and the credit rating of the bank. It's important to note that each bank establishes its unique terms and conditions when offering fixed deposits to the public.

The Basics of Fixed Deposits

Before diving into premature withdrawal, it's crucial for you to grasp the basics of fixed deposits. When you open an INDIE fixed deposit, your funds are deposited for a specified tenure, typically ranging from a few days to several years. In return, you get interest on the deposit at a predetermined rate, providing a secure avenue for your savings.

What is Premature Withdrawal?

Premature fixed deposit withdrawal refers to the act of withdrawing your funds from a fixed deposit before the completion of the agreed-upon maturity period. While fixed deposits are meant to be kept until maturity for maximum returns, unexpected situations might require you to access your funds earlier.

Implications of Premature Withdrawal in Fixed Deposit

Opting for premature FD withdrawal can have consequences, including a potential reduction in the interest rate. Financial institutions often impose penalties or lower the interest rate on premature withdrawals, impacting the overall returns on the investment. It's crucial for you to familiarise yourself with the terms and conditions specified by the bank or institution regarding premature withdrawal.

Reasons for Premature Withdrawal

Several reasons may prompt you to consider FD withdrawal. These include urgent financial needs such as medical emergencies, unexpected expenses, educational requirements, or investment opportunities that demand immediate capital.

Penalties and Interest Rate Adjustments

Banks typically impose penalties for premature fixed deposit withdrawals, and the specific penalty structure varies among institutions. Additionally, the interest rate applicable to the premature withdrawal may be adjusted, leading to a lower return than initially anticipated. Understanding the penalty and interest rate adjustments can help you make informed decisions.

Considerations Before Opting for Premature Withdrawal

Before deciding on a premature fixed deposit withdrawal, you should carefully evaluate the financial implications. Comparing the penalty FD breaking charges, assessing the impact on overall returns, and exploring alternative sources of funds are essential steps. Additionally, you should communicate with the bank or financial institution to gain a clear understanding of the specific terms governing premature withdrawal.

Alternatives to Premature Withdrawal of Fixed Deposit

Premature withdrawal of a fixed deposit may entail penalties and reduced interest rates, impacting overall returns. Before opting for such a step, you can explore alternative options to meet your financial needs without compromising the fixed deposit. Here are some alternatives to consider:

Loan Against Fixed Deposit

Some banks allow you to take a loan against your fixed deposit without breaking it, while keeping the investment intact. The interest rates on such loans are often lower compared to other forms of credit.

Partial Withdrawal

Some financial institutions offer the option of partial withdrawal, allowing you to withdraw a portion of the fixed deposit amount while keeping the rest invested. This way, you can access needed funds without losing the entire investment.

Emergency Fund Utilisation

If the need for funds is due to an emergency, you should consider tapping into your emergency funds before resorting to premature withdrawal of fixed deposits. An emergency fund provides a cushion for unexpected expenses.

Exploring Other Investments

Depending on your financial goals and risk tolerance, you may explore other investment options to generate liquidity. Liquid mutual funds or short-term investment plans could offer alternatives with potentially higher returns.

Utilising Redundant Assets

You may consider selling redundant assets or possessions that are not essential for daily living. This can provide a source of funds without affecting fixed deposits.

Liquidating Other Investments

If you have other investments, such as stocks or mutual funds, that are more liquid than fixed deposits, you can consider them for liquidation to generate the necessary funds.

Recommended Read: Tax on Fixed Deposit Interest

While fixed deposits provide a secure and stable investment option, the concept of premature withdrawal introduces flexibility for you when facing unexpected financial challenges. However, it's imperative for you to weigh the implications, understand the penalties, and explore alternatives before opting for premature withdrawal. By doing so, you can make informed decisions that align with your financial goals while mitigating potential setbacks in returns.

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Premature fixed deposit withdrawal: penalty & how to avoid it.

Deb P Samaddar

Created on 14 Sep 2022

Wraps up in 6 Min

Read by 4.8k people

Updated on 01 Dec 2022

72% of Indians don't have adequate emergency funds! Most people aren't ready to handle financial crunches, whether it is a medical emergency or sudden repair/maintenance. A go-to alternative to meet these emergencies is premature withdrawal from fixed deposits.

The average interest rate for fixed deposits is around 7% per annum , slightly above a normal savings account. Fixed deposits, also known as term deposits, are usually preferred due to their assured returns when compared to equities. However, due to limitations and penalties, people are apprehensive about prematurely closing their FD.

So, should you break your FD prematurely? How much of your returns are lost when you do? How do you even break an FD? Read on and find out.

Procedure for Premature Withdrawal of Fixed Deposit

Generally, the penalty charges range from 0.5% or  1% of the interest rate, based on the value of the FD being up to ₹5 lakh or more. The penalty is the amount charged by the bank when the depositor takes out the money from the bank before the date of maturity.

The fine is levied on the interest to be paid to the depositor. Very few banks offer zero penalty charges on premature withdrawal. However, the bank is liable to pay no interest if the FD is prematurely closed before completing seven days from the booking date.

You can apply for premature withdrawal in two ways, offline and online.

For the offline method , you need to visit the bank, submit the required documents, fill out the application form, visit the home branch and get the FD closed. 

For the online method , you must have booked the FD in online mode in the first place, and internet banking should be enabled for it. Your account should have a net banking facility. Customers can close their FD accounts prematurely using the banks' online web portal or app. The steps vary from one bank's portal to another, but the general procedure is similar.

If you need a lesser amount of funds than your fixed deposit , you can also save on the penalty by going for a partial withdrawal.

Tax-Saver fixed deposits do not allow any withdrawals, partial or otherwise. Most banks have a lock-in period of five years for Tax Saver Fixed Deposit.

Did you know that you need to maintain AMB (Average Monthly Balance) on the bank account linked to your Fixed Deposit?

FD Premature Withdrawal Penalty Calculator 

There are two cases that may arise in the case of a premature withdrawal of a fixed deposit. The difference between these two cases is the annual rate of interest provided by the two bank accounts; the Fixed Deposit account and the Savings Account. The scenario changes based on which account has the higher interest rate.

Case 1: FD interest rate is more than the Savings Account interest rate Assuming that a customer has created an FD worth ₹1 lakh that provides 7% interest for 2 years. For the same scenario, let's assume that the prevalent savings account interest rate is 6.5%. She withdraws from the FD after completing 1 year. In one year, she would have earned around ₹7,000 in interest at the FD's rate of 7%. However, the new interest rate for the sake of premature withdrawal would be 6.5% – 0.5%= 6%. Therefore, the new rate will be 6%, and interest shall be paid at this rate instead of the previous 7%.

Case 2: Savings Account interest rate is higher than FD interest rate Assuming that another customer has invested in an FD of Rs. 1 lakh at a rate of 6% for 2 years. Let us also believe that the interest rate for a normal savings bank account for 1 year at the time of the creation of the FD is 7%. The penalty rate for premature withdrawal shall be 0.5% of the effective interest rate in this case. The effective interest rate, in this situation, will be the lower of the two rates, and the lower rate shall be used for the calculation of the revised interest rate on the FD.

He withdraws from the FD after completing 1 year. For this period, he has accrued interest @ 6%. But the effective FD rate in the case of this premature withdrawal will be 6% – 0.5%= 5.5%. The holder of the FD account shall receive a reduced amount of interest after the reduction of the penalty.

Note:  These are hypothetical scenarios only. The actual numbers and calculations may vary at the time of withdrawal. 

You can use online premature FD penalty calculators to gauge how big of a penalty you will pay, how much the interest will be lowered, and the disadvantages (if any) of withdrawing the money prematurely. In addition, you can analyse the returns you will get on withdrawal and how much you lose due to penalty so that you can either hold on to the FD amount or withdraw the amount partially. 

FD Withdrawal -Some Points To Ponder

FDs are considered a haven to park your money if you are a risk-averse investor. Breaking your FD prematurely may lead to some adverse consequences; you need to give thought to:

• Reduced interest,
• Reduction in the matured amount of FD.
• For retirees, premature withdrawal can stress one's retirement funds. Individuals can consider taking a loan on the FD.
• The documentation and filing processes are often cumbersome.

Ways To Avoid Making a Premature Withdrawal

1. Bank FD laddering: Laddering is buying multiple FDs maturing at different periods. Divide your lumpsum investment into smaller investments that will mature at different times, say, one year, two years, five years and so on.

2. Sweep-in facility: The facility enables you to transfer any sum over a preset amount specified by you from your savings account to a sweep-in deposit account. The interest rate varies according to the tenure of the deposit, from one year to five years. However, the preset amount mentioned above needs to be at least ₹25,000.

3. Avail of a loan against the FD: In many cases, most banks provide a loan against the FD. The amount that can be received as a loan can go as much as 90 % of the deposit account. The interest rate is usually 1-2% above the interest paid on the deposit.

The Bottom Line

Fixed deposits and their greater security as a result of low risk are often used by risk-averse investors. These include individuals with inflexible horizons, and a premature withdrawal can jeopardise their financial standing. Thus, proper research is necessary before taking a decision with such serious consequences. That being said, go for a premature withdrawal of your FD if it helps fulfil your requirements. When you need funds, breaking your FD can be a better option than other lending instruments based on your financial appetite.

Would you still go for premature withdrawal if you had other options?

Tell us in the comments section below.

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Sample Letter for Premature Withdrawal of Fixed Deposit

The customers of the banks open Fixed Deposit Accounts in the same branches where they have Savings Accounts. However, due to the emergency, the customers may have to close the Fixed Deposit Account before maturity. The present article provides a sample letter for premature withdrawal of Fixed Deposit.

Sub: Request to prematurely close Fixed Deposit Account. Date: {Put the date here} From The customer (Name as per the bank record) Address {As per the bank record} To The Branch Manager XYZ Bank ABC Street New Delhi – 11000* Dear Sir/ Madam, I (name of the customer) hold the Savings Bank Account No. (indicate the Savings Bank Account No.) in your Branch. I would further like to state that I also opened a Fixed Deposit Account (indicate the Fixed Deposit Account No.) on (the date on which the Fixed Deposit was opened) depositing an amount of Rs. (put the principal amount). The tenure of the Fixed Deposit was (the tenure) years. However, I urgently need the money for some personal purpose. So you are requested to close my aforesaid Fixed Deposit account prematurely and transfer the entire amount (principal + accumulated interest) to my Savings Bank Account (Savings Account No.) maintained in your branch. Hoping for you to comply my request at the earliest. With regards. Yours sincerely, {Signature of the Customer} {Name of the Customer}

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18+ Fixed Deposit Withdrawal Letter Format, Phrases, Samples

• Letter Format
• March 11, 2024
• Bank Letters , Request Letters

Fixed Deposit Withdrawal Letter Format: A fixed deposit is a popular investment option that offers a safe and secure way to earn interest on your money . It is a type of investment where you deposit a fixed amount of money for a fixed period of time, and in return, you earn a fixed rate of interest .

However, there may be instances when you need to withdraw your fixed deposit before the maturity date . In such cases, you will need to write a Fixed Deposit Withdrawal Letter format to the bank or financial institution where you have deposited your money. In this article, we will discuss the Fixed Deposit Withdrawal Letter format that you can use.

Also Visit:

• Bank Account Closing Letter Format 
• Request Letter to Bank for Open Current Account Format 
• Bank Letter to request Overdraft Facility
• Letter to Cancel an Issued Cheque Format

Tips for (FD) Fixed Deposit Withdrawal Letter Format

Content in this article

The Fixed Deposit Withdrawal Letter Format should include the following details:

• Name and Address of the Bank or Financial Institution: The Bank letter should begin with the name and address of the bank or financial institution where you have deposited your fixed deposit. You should also mention the branch name and address, if applicable.
• Your Personal Information: Include your full name, address, and contact details, such as phone number and email address. This will help the bank or financial institution to identify you and process your request.
• Fixed Deposit Account Information: Include the account number of your fixed deposit, the date of deposit, and the amount of the deposit. This information will help the bank or financial institution to locate your account and process your request.
• Reason for Withdrawal: Provide a brief explanation of why you need to withdraw your fixed deposit before the maturity date. This could be due to personal or financial reasons, such as a medical emergency or a sudden need for funds.
• Signature: The Request letter should end with your signature and the date. This will serve as proof that you have requested the Fixed Deposit Withdrawal Letter Format.

Fixed Deposit Withdrawal Letter Format – Sample Format

Below is a sample format for a Fixed Deposit Withdrawal Letter. Please customize it based on your specific details and the policies of your bank or financial institution.

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date]

[Bank/Branch Manager’s Name] [Bank Name] [Branch Address] [City, State, Zip Code]

Subject: Fixed Deposit Withdrawal Request

Dear [Bank/Branch Manager’s Name],

I hope this letter finds you well. I am writing to request the withdrawal of funds from my fixed deposit account with your bank. The details of the fixed deposit are as follows:

Account Holder’s Name: [Your Full Name] Fixed Deposit Account Number: [Your Account Number] Principal Amount: [Original Amount] Maturity Date: [Maturity Date] I would like to withdraw the funds from the fixed deposit account before the maturity date due to [provide a brief reason for the withdrawal, e.g., financial requirement, investment opportunity, etc.]. I understand that there may be penalties or adjustments to the interest earned, and I am willing to comply with the terms and conditions associated with the premature withdrawal.

Please find attached the required documents, including a copy of my identification, passbook, and any additional forms necessary for processing the withdrawal.

I kindly request you to process this withdrawal request at your earliest convenience and transfer the funds to my [mention the account type, e.g., savings account] linked to the fixed deposit account.

If there are any additional requirements or procedures that I need to follow, please inform me promptly. I appreciate your prompt attention to this matter and look forward to a smooth withdrawal process.

Thank you for your assistance.

[Your Full Name] [Your Signature] (if sending a physical letter)

Remember to attach any necessary documents and adhere to the bank’s procedures for fixed deposit withdrawals.

Fixed Deposit Withdrawal Letter Format – Example

Here’s an example of a Fixed Deposit Withdrawal Letter:

[Your Name]

[Your Address]

[City, State, Zip Code]

[Email Address]

[Phone Number]

[Bank/Branch Manager’s Name]

[Bank Name]

[Branch Address]

I trust this letter finds you well. I am writing to formally request the withdrawal of funds from my fixed deposit account with your esteemed bank. The details of the fixed deposit are as follows:

• Account Holder’s Name: [Your Full Name]
• Fixed Deposit Account Number: [Your Account Number]
• Principal Amount: [Original Amount]
• Maturity Date: [Maturity Date]

I am in need of funds due to [provide a brief reason for the withdrawal, e.g., personal expenses, investment opportunities, etc.]. Therefore, I request your assistance in processing the withdrawal before the maturity date.

I am aware that premature withdrawal may incur penalties or adjustments to the interest earned, and I am willing to comply with the terms and conditions associated with the withdrawal.

Enclosed, please find the necessary documents for your verification, including a copy of my identification, passbook, and any additional forms required for processing the withdrawal.

I kindly request you to expedite the processing of this withdrawal request and transfer the funds to my [mention the account type, e.g., savings account] linked to the fixed deposit account.

If there are any specific procedures or forms that I need to complete, please advise me at your earliest convenience. I appreciate your prompt attention to this matter and thank you for your cooperation.

[Your Full Name]

[Your Signature] (if sending a physical letter)

Remember to adapt the letter to your specific situation and the policies of your bank. Attach any necessary documents and follow the bank’s procedures for fixed deposit withdrawals.

Simple Fixed Deposit Withdrawal Letter Format

Here’s a Simple Fixed Deposit Withdrawal Letter Format:

[Your Name] [Your Address] [City, State ZIP Code] [Phone Number] [Email Address]

[Bank Name] [Bank Address] [City, State ZIP Code]

Dear Sir/Madam,

Subject: Request for Withdrawal of Fixed Deposit Account [Account Number]

I am writing to request the withdrawal of my fixed deposit account [Account Number] before the maturity date. The details of my fixed deposit account are as follows:

Account Number: [Account Number] Date of Deposit: [Date of Deposit] Amount of Deposit: [Amount of Deposit]

The reason for my request for early withdrawal is [Reason for Withdrawal]. I request you to kindly process my request and credit the amount to my [Savings/Current] account [Account Number] with your bank.

Please let me know if any additional information or documentation is required from my end to process this request.

Thank you for your cooperation.

[Your Signature] [Your Name]

Fixed Deposit Withdrawal Letter Format for Medical Emergency

Here’s a Fixed Deposit Withdrawal Letter Format for Medical Emergency:

I am facing a medical emergency and require the funds from my fixed deposit account to cover my medical expenses. I request you to kindly process my request and credit the amount to my [Savings/Current] account [Account Number] with your bank.

Fixed Deposit Withdrawal Letter Format For Medical Emergency

Fixed Deposit Withdrawal Letter Format – Template

Here’s a template for a Fixed Deposit Withdrawal Letter. Customize it according to your specific details and the policies of your bank.

I hope this letter finds you well. I am writing to request the withdrawal of funds from my fixed deposit account with your esteemed bank. The details of the fixed deposit are as follows:

Remember to fill in the details as needed and adhere to the bank’s procedures for fixed deposit withdrawals.

Formal Letter for FD Closure

Below is a formal letter requesting the closure of a Fixed Deposit (FD) account:

Subject: Request for Closure of Fixed Deposit Account

I trust this letter finds you well. I am writing to formally request the closure of my Fixed Deposit (FD) account with your esteemed bank. The details of the FD account are as follows:

I have carefully reviewed the terms and conditions of the fixed deposit account, and I would like to proceed with the closure before the maturity date. The reason for this premature closure is [provide a brief reason for the closure, e.g., financial requirements, investment opportunities, etc.].

I understand that there may be penalties or adjustments to the interest earned due to the premature closure, and I am willing to comply with the associated terms.

Enclosed with this letter, please find the necessary documents for your verification, including a copy of my identification and the passbook or relevant account details.

I kindly request you to expedite the closure process and transfer the total amount, including interest earned, to my [mention the account type, e.g., savings account] linked to the fixed deposit account.

If there are any specific procedures, forms, or additional information required from my end, please advise me promptly.

I appreciate your prompt attention to this matter and thank you for your cooperation.

Remember to adapt the letter to your specific situation and the policies of your bank. Attach any necessary documents and follow the bank’s procedures for fixed deposit closure.

Request Letter to Close Fixed Deposit Account

Below is a request letter to close a Fixed Deposit (FD) account. Customize it according to your specific details and the policies of your bank.

I hope this letter finds you well. I am writing to formally request the closure of my Fixed Deposit (FD) account with your esteemed bank. The details of the FD account are as follows:

Account Holder’s Name: [Your Full Name] Fixed Deposit Account Number: [Your Account Number] Principal Amount: [Original Amount] Maturity Date: [Maturity Date] After careful consideration, I have decided to close the fixed deposit account due to [provide a brief reason for the closure, e.g., financial requirements, investment opportunities, etc.].

I kindly request you to initiate the closure process and transfer the total amount, including interest earned, to my [mention the account type, e.g., savings account] linked to the fixed deposit account.

Feel free to adjust the letter based on your specific situation and the requirements of your bank.

Bank Fixed Deposit Withdrawal Request Letter

Below is a letter requesting the withdrawal of funds from a Fixed Deposit (FD) account. Customize the letter according to your specific details and the policies of your bank.

Subject: Request for Withdrawal of Fixed Deposit Amount

I trust this letter finds you well. I am writing to request the withdrawal of funds from my Fixed Deposit (FD) account with your esteemed bank. The details of the FD account are as follows:

I would like to withdraw the funds from the fixed deposit account due to [provide a brief reason for the withdrawal, e.g., financial requirements, investment opportunities, etc.]. I am aware that there may be penalties or adjustments to the interest earned due to the premature withdrawal, and I am willing to comply with the associated terms.

Customize the letter based on your specific details and adhere to the procedures outlined by your bank for fixed deposit withdrawals.

Fixed Deposit Withdrawal Letter Format – Email Format

Here’s an Email Format of Fixed Deposit Withdrawal Letter Format:

Dear [Bank Representative’s Name],

I have attached a scanned copy of the duly filled and signed Fixed Deposit Withdrawal Letter for your reference. Please let me know if any additional information or documentation is required from my end to process this request.

Fixed Deposit Withdrawal Letter Format for Financial Need

Here’s a Fixed Deposit Withdrawal Letter Format for Financial Need:

I am facing a financial need and require the funds from my fixed deposit account. I request you to kindly process my request and credit the amount to my [Savings/Current] account [Account Number] with your bank.

Fixed Deposit Withdrawal Letter Format for Investment Purpose

Here’s a Fixed Deposit Withdrawal Letter Format for Investment Purpose:

I am making this request to withdraw the funds from my fixed deposit account as I have found a profitable investment opportunity that I wish to take advantage of. I believe that investing these funds will generate higher returns than leaving them in the fixed deposit account until maturity.

I request you to kindly process my request and credit the amount to my [Savings/Current] account [Account Number] with your bank.

FAQS About Fixed Deposit Withdrawal Letter Format, Phrases, Samples

What information should be included in a fixed deposit withdrawal letter format.

The Fixed Deposit Withdrawal Letter Format should include your name, address, account details (FD account number, principal amount, and maturity date), the reason for withdrawal, a request for premature closure, and any necessary documentation.

Is it necessary to mention the reason for withdrawing funds in the Fixed Deposit Withdrawal Letter Format?

While it’s not mandatory, This Fixed Deposit Withdrawal Letter Format providing a brief reason for the withdrawal can help the bank understand your needs and may assist in processing your request more efficiently.

Should I enclose any documents with the Fixed Deposit Withdrawal Letter Format?

Yes, it’s advisable to enclose relevant documents such as a copy of your identification, passbook, or any additional forms required by the bank to facilitate the withdrawal process.

What phrases can be used to convey a polite request for Fixed Deposit Withdrawal Letter Format?

Use phrases like “I kindly request,” “I trust this Fixed Deposit Withdrawal Letter Format finds you well,” and “I appreciate your prompt attention to this matter” to convey a polite and respectful tone in the letter.

Are there specific terms or phrases commonly used in Fixed Deposit Withdrawal Letter Format?

Yes, This Fixed Deposit Withdrawal Letter Format common terms include “premature closure,” “request for withdrawal,” “transfer of funds,” “compliance with terms and conditions,” and “enclosed please find the necessary documents.”

A Fixed Deposit Withdrawal Letter Format is a formal request made by an account holder to withdraw their funds from a fixed deposit account before the maturity date . The letter should clearly state the account number, date of deposit, and amount of deposit. It should also provide a reason for the early withdrawal and include the account details where the funds are to be transferred.

The Fixed Deposit Withdrawal Letter Format should be professional and concise, and it should be addressed to the bank’s representative in charge of processing such requests . It is important to ensure that all necessary information and documentation are included to avoid any delays in processing the request.

While the sample format of Fixed Deposit Withdrawal Letter Format provided above can be used as a guide, Overall, a well-written Fixed Deposit Withdrawal Letter can help to ensure a smooth and efficient withdrawal process, and prompt transfer of the funds to the designated account .

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