Satyam Verma 22 January 2020
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 23 January 2020
Now the procedure for breaking the fixed deposit is fairly simple and much faster. However, the whole procedure can vary across PSU banks and Private banks. The procedure can also vary if you take into consideration online vs. offline
When you create a Fixed Deposit or Recurring Deposit, the bank sends you Deposit Certificate or receipt after some days of opening it (In case of many PSU banks, you need to collect it manually by going to branch). This is just a receipt or a proof of deposit. Now you can carry this deposit certificate to branch and ask the bank official to break your FD, they should be able to process your request.
However in case you do not have the deposit receipt or have lost it somewhere, you don’t have to worry much, in that case, you will have to give them a letter or fill up a premature FD breaking form available at the bank branch, read further to know about it.
Dr J C Vashista (Advocate) 24 January 2020
Contact Branch incharge where you have the fixed deposit, there is no legal issue involved in the query for obligation of experts.
However, if you still feel so, it is advisable to consult a local prudent lawyer with documents for better appreciation of facts and professional guidance .
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