Pages

▼

How To Close or Cancel Online RD (Recurring Deposit) Through SBI Internet Banking?



Finance Guru Speaks: Do you want to close or cancel your online RD account through SBI (State Bank of India) Online Banking?

If yes, then follow the below steps to cancel your RD account through OnlineSBI:-

1.      Login to OnlineSBI website, using your Username, Password, and OTP (if requested). 
OnlineSBI Login Page
OnlineSBI Login Page
  2.      Go to Deposit & Investment -> Fixed Deposit, as shown below:- 
Close RD Account SBI Online Banking
Click to enlarge - Close RD Account SBI Online Banking
 3.      Click on Recurring Deposit (e-RD) link as shown below:-
Close RD Account SBI Online Banking
Click to enlarge - Close RD Account SBI Online Banking
4.      Click on Recurring Deposit (e-RD) link as shown below:-
Close RD Account SBI Online Banking
Click to enlarge - Close RD Account SBI Online Banking
5.      Click on Close A/c option as shown below:-

Close RD Account SBI Online Banking
Click to enlarge - Close RD Account SBI Online Banking
6.      Select your RD account to be closed and click on Proceed button.
  
Congratulations!! You have closed your online RD Account successfully using SBI Internet Banking facility.

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. 
  • 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.

If you like my work, then you can support me by subscribing to my YouTube Channel - FINANCE guru SPEAKS, and sharing this article over your Social Networks. ✌

19 comments:

  1. My little12 July 2016 at 19:24

    Thanks for the information :), also i need how to close RD account online in HDFC.
    Thanks:)

    ReplyDelete
    Replies
    1. FINANCE guru SPEAKS12 July 2016 at 21:24

      Hi Murali,

      Thanks for your kind comments. We will write our next article on the requested topic and intimate you.

      Keep visiting and sharing the articles.


      Regards,
      Finance guru Speaks

      Delete
    2. Unknown6 January 2017 at 16:28

      I need how to close RD account online in Bank Of Baroda.

      Delete
    3. Unknown6 January 2017 at 16:29

      I need how to close RD account online in Bank of Baroda.

      Delete
  2. Sivaprakash20 February 2017 at 23:23

    Thaks a lot

    ReplyDelete
  3. Unknown21 March 2017 at 17:12

    Bank of Baroda RD closing process online?

    ReplyDelete
  4. Unknown11 October 2017 at 14:30

    Do i get the money back once the rd is closed??

    ReplyDelete
    Replies
    1. FINANCE guru SPEAKS11 October 2017 at 21:43

      Yes. Your principal amount + Interest earned (less small penalty if RD closed prematurely)

      Delete
  5. Unknown11 October 2017 at 14:30

    Do i get the money back once the rd is closed??

    ReplyDelete
    Replies
    1. Finance guru Speaks7 December 2020 at 19:43

      Yes, you get the Money (Principal amount plus Interest earned for the duration of your RD period).

      Thanks!

      Delete
  6. Anonymous30 June 2018 at 08:39

    Within how much time after closing the RD online,the amount gets credited ?

    ReplyDelete
    Replies
    1. Finance guru Speaks7 December 2020 at 19:41

      The maturity amount credits immediately to your mentioned bank account.

      Thanks.

      Delete
  7. Anonymous7 December 2020 at 17:30

    Can you advise how to close to matured RD account online . I have been been asked to visit branch everytime for that

    ReplyDelete
  8. Balaji7 December 2020 at 17:30

    Can you advise how to close to matured RD account online . I have been been asked to visit branch everytime for that

    ReplyDelete
    Replies
    1. Finance guru Speaks7 December 2020 at 19:40

      Hi Balaji,

      I assume that your RD is opened in SBI bank. You can close your RD online, if its opened online at the first place (e-RD).

      If you have visited the bank branch to open your RD account (Normal RD), then it cannot be closed as per the provided Steps.

      You can break your current normal RD, get the maturity amount credited to your bank account and then follow below article to open e-RD account via Internet.

      Article link - https://www.financeguruspeaks.com/2012/04/how-to-open-online-recurring-deposit.html

      Once e-RD account is opened, then you can close it without visiting the branch.

      Hope it helps!

      Thanks.

      Delete
  9. Manoj7 July 2021 at 08:22

    Sir I am from Kolkata and I hv an account in sbi

    But some years ago I was in bbs where in same sbi with sme account number I strted offline RD
    But now it's pandemic time and I am in my home town
    And want to close my RD account but through online and my kolkata branch sbi refused to close my RD account as it was openned in branch of Bbs.

    ReplyDelete
  10. Unknown25 October 2021 at 18:53

    i cannot close rd account online,it says it should be close in bank please help

    ReplyDelete
    Replies
    1. Finance guru Speaks15 November 2021 at 18:25

      As per Bank, only e-RD (RD account opened online through onlinesbi.com website) can be closed online. If you are not able to close your RD account, then chances are high that you have opened RD account through bank branch. You may contact your branch for further assistance.

      Delete
  11. kumar5 May 2022 at 14:51

    sbi is totally worst, they do not support their costumer. i had opned RD using yono SBI and now i want to close it but i am unable to do it. the messege showing that since it was opened in branch you can not close online

    ReplyDelete

Thanks for your interest. Keep visiting.


Sincerely,
Finance guru Speaks