If you have created SBI e-RD (Recurring Deposit) Online by e-RD option in Online SBI Internet Banking Portal than you may close your RD a/c online anytime. So let’s follow below steps to Close SBI e-RD (Recurring Deposit) through Online SBI Internet Banking.
But before you proceed following how to Close SBI e-RD (Recurring Deposit) through Online SBI you should note down the important guidelines shared by SBI.
- Once deposit a/c is closed, it cannot be activated again.
- Closure proceeds will be credited to the same a/c from which the e-RD was created. If the original debit a/c is closed or has become inoperative, then please request the branch for closure.
- Interest paid on premature withdrawal of term deposits could be less than the contracted rate, as per the applicable rule on the date of premature payment. For current rules, please click here.
- The NRO e-RD may only be closed at the Branch. Please submit the “Self declaration / Tax residency certificates” as applicable under DTAA (Double Taxation Avoidance Agreement) at the Branch for availing concessional TDS.
- In case the original maturity date of the deposit is past, the deposit would have been rolled over, in the absence of any instructions to the contrary. The maturity date displayed in such cases would not be the original maturity date.
Step by Step Procedure on How to Close SBI e-RD (Recurring Deposit) through Online SBI
- Just login into your Online SBI Internet Banking Account.
- Once you are logged in into your Online SBI Internet Banking Account, just navigate to e-Fixed Deposit section by clicking on e-Fixed Deposit tab.
- Under e-Fixed Deposit tab from left hand side menu pane just click on e-RD/ e-SBI Flexi Deposit, on that page you will get two options e-RD Recurring Deposit and e-SBI Flexi Deposit. Select e-RD Recurring Deposit and click on proceed button.
- Under e-RD (Recurring Deposit) just click on Close A/c tab, select the RD Account for closing and click on proceed button.
- On next page you will get the details to verify the e-RD details and confirm for pre closure, just review it, enter the remarks in remark field and click on confirm button.
- On next page you will be asked to enter high security password, enter the high security password which you have received on your mobile number and click on confirm button.
- That’s it on next page you will get message saying your e-RD a/c has been successfully closed, please check the debit account for credit proceeds.
- The RD Amount with interest will get credited into your debit account.
This is how easily you can close your SBI e-RD (Recurring Deposit) through Online SBI Internet Banking anytime.