How to withdraw money from fixed deposit after maturity online? A fixed deposit is a popular investment option that offers a fixed rate of interest and a guaranteed return at maturity. Once the fixed deposit matures, you can withdraw the principal amount along with the interest earned. With the advent of online banking, withdrawing money from a fixed deposit after maturity has become easier and more convenient. In this article, we will discuss how to withdraw money from a fixed deposit after maturity online in detail.
- Log in to your bank account
To withdraw money from a fixed deposit after maturity, you need to log in to your bank account online. You can access your bank’s website or mobile app and enter your login credentials, which may include your username and password or biometric authentication.
- Navigate to the fixed deposit section
Once you log in to your bank account, navigate to the fixed deposit section, where you can view your fixed deposit account details, including the maturity date and the interest earned.
- Choose the fixed deposit account
If you have multiple fixed deposit accounts, choose the account from which you want to withdraw the money after maturity.
- Select the withdrawal option
After selecting the fixed deposit account, you need to choose the withdrawal option. Depending on your bank’s policies, you may have several options, including a partial withdrawal, premature withdrawal, or a full withdrawal.
- Confirm the withdrawal
Once you select the withdrawal option, the bank will provide you with the details of the amount to be withdrawn, the interest earned, and the applicable taxes and fees. Make sure to review the details carefully before confirming the withdrawal.
- Transfer the money
After confirming the withdrawal, the bank will transfer the money to your linked savings or current account. The transfer may take a few hours or a day, depending on your bank’s processing time.
- Check your account
After the transfer is complete, check your savings or current account to ensure that the money has been credited. You can also download the transaction receipt or statement for future reference.
In conclusion, withdrawing money from a fixed deposit after maturity online is a simple and convenient process. You need to log in to your bank account, navigate to the fixed deposit section, choose the withdrawal option, confirm the withdrawal, and transfer the money to your savings or current account. Make sure to read the terms and conditions of your fixed deposit account and the withdrawal policies of your bank before initiating the withdrawal.