how to transfer recurring deposit in hdfc?
Hi,
I have a Recurring deposit in HDFC bank and tried transferring my RD in HDFC once. Basically, you can’t directly “transfer” a recurring deposit from one branch/account to another the way we do with funds. What you need to do is close the existing RD and then open a fresh RD in the desired branch or linked account.
You can close the RD account in HDFC bank online and the maturity proceeds (or the balance if you close before maturity) get credited to your savings account. From there, you can start a new RD instantly online with the new branch details or account.
If you don’t use NetBanking, you can also walk into the branch, fill out the RD closure form, and request them to open a new RD linked to the branch where you want to open.