FD Closure Form Axis Bank - Summary
Fixed Deposit (FD) Closure Form of Axis Bank is an important document that helps customers close or withdraw their fixed deposit amount after maturity or before maturity. This form contains details like account holder name, FD account number, branch name, maturity date, and withdrawal instructions. By submitting this form, customers can request the bank to close their FD and transfer the amount to their savings or current account.
Axis Bank FD closure form is available at the bank branch, and sometimes it can also be downloaded from the official Axis Bank website. The process is simple, but the customer must provide accurate details and a valid ID proof. The form ensures that the fixed deposit is closed safely and the maturity amount is given to the rightful owner.
Conditions for FD Closure and Maturity
- The FD amount can be withdrawn together with interest only after the maturity date.
- If the FD is closed before maturity (premature closure), the bank may deduct penalty charges, and the interest rate will be lower than the original agreed rate.
- The FD owner must sign the closure form, and if it is a joint account, all holders must sign.
- Valid identity proof may be required for verification before closing the FD.
- TDS (Tax Deducted at Source) may be applied if the interest amount is more than the taxable limit as per government rules.
Process to Close Axis Bank FD
- Visit your nearest Axis Bank branch with your Fixed Deposit Advice/Receipt.
- Collect the FD Closure Request Form or download it if available online.
- Fill in details like name, FD number, maturity date, and bank account number.
- Submit the filled form along with ID proof and original FD certificate.
- If it is a joint FD, ensure all account holders sign the form.
- The bank will process the request and transfer the amount to your registered savings or current account or issue a cheque, based on your request.