Opened a 5year it saving fd by mistake. bank not helping

The bank can't close the account as it is a lock-in period.

When you invest in a bank’s tax-saving FD, your money will be locked in for 5 years until maturity.

You won’t be able to withdraw it or take a loan against it during this period.

Tax-saving FDs require a mandatory lock-in of 5 years. 

When you prematurely withdraw the bank FD, banks levy a penalty to compensate for the same.

The penalty typically depends on when you withdraw the FD during the stipulated tenure, as per the terms and conditions stated by the bank.

 Typically, the penalty charges range from 0.5 to 1% of the rate of interest.

Very well analysed by the experts, I endorse it.

Lock-in period is mandatory for tax saving facility, which is beyond perview of the Bankers. Either wait for completion of the period or pay penalty to get the FD liquidated and encashed. 

However, non-functional or malfunctioning of app shall have no bearing on the government (finacial) policy especially qua imposition / collection of income tax liability.

1.  If you urgently need money, the only practical way to take loan against that FD. After maturity the FD can be closed and loan adjusted. 

2.   Interest charged will be 1to  2% higher than the FD.

3.  If you feel the bank mobile app misled you, can file complaint at various stages.

Thank you for your replies. 

Even after conveying that the FD was opened by mistake and not a planned investment. The bank doesn't help me with closing. I insisted them to charge them penalty and waive off interest and other benefits and refund the balance amount in FD. But still no help.

Is there any chance that I can legally approach for a solution for this issue.?

wether by mistake or not.  you entered in the transaction.