How to Break FD in SBI Online?

Fixed Deposits (FDs)
1

I have an emergency and I have an FD in SBI. Someone please help me figure out how to withdraw fixed deposit in SBI?

2

Hey Nisshant,
The process to break the SBI Fixed Deposit online is pretty simple. You can do it right from your phone using the SBI YONO app or from your computer via SBI Net Banking. You do not have to visit any branch.

However, I strongly advise against breaking the deposit prematurely, as doing so may result in losing out on higher interest rates.

Plus, additional penalty charges of between 0.5% and 1% (depending on your FD amount) apply if you liquidate your FD before its tenure. However, if you are in dire financial need, here is a step-by-step guide as an answer to your query about how to break FD in SBI online:

  1. Breaking an FD Using the Yono SBI APP

  2. Open the SBI Yono app and go to the ‘Deposit’ option.

  3. Tap on the ‘Fixed Deposit’ option and choose the FD you want to close.

  4. Follow the on-screen instructions. The maturity amount will be credited directly to your savings account.

  5. Break an FD Using SBI Net Banking

  6. Log in to your SBI net banking account and head to the Fixed Deposit menu.

  7. Click on ‘ETDR/STDR (FD)’ and choose ‘Close A/C Prematurely’.

  8. Choose the account you want to close, specify the reason, and provide the security code received on your registered number.

  9. You will receive the amount in your savings account.

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