Fixed Deposit Closure Application Letter to Bank Manager (with Samples & PDFs)
Are you looking to close your fixed deposit account and need assistance in drafting a formal application letter? This blog post is here to help you navigate this process smoothly.
In this post, we offer sample templates of fixed deposit closure application letters to guide you in addressing your bank manager professionally and effectively. Grab your pen and let’s get started!
I would like to point out that you can also download a PDF containing all the samples at the end of this post.
Fixed Deposit Liquidation Application to Bank Manager
Here are 5 different sample applications for “fixed deposit closure application letter to bank manager” that you will certainly find useful:
Application for Fixed Deposit Early Withdrawal Due to Financial Hardship
The Branch Manager,
Subject: Application for Fixed Deposit Early Withdrawal Due to Financial Hardship
I, [Your Name], holding a Fixed Deposit account (A/C No: [Account Number]) with your esteemed bank, humbly request an early withdrawal of my fixed deposit due to unforeseen financial hardships.
The recent challenges, including the loss of my job and unexpected medical expenses, have caused a severe strain on my finances. In such a situation, I am left with no option but to withdraw my fixed deposit prematurely to manage my expenses and fulfill my financial obligations.
I understand that early withdrawal of fixed deposit will result in a reduced interest rate and may be subject to penalties as per the bank’s policy. However, under these circumstances, I kindly request you to consider waiving or reducing any penalties, if possible, to alleviate my financial burden.
I would appreciate your prompt assistance in processing the early withdrawal of my fixed deposit. Kindly let me know the necessary documentation and procedures to complete the process.
Thank you for understanding my situation, and I look forward to your favorable response.
Application for Fixed Deposit Closure for Investment Opportunities
The Branch Manager,
Subject: Application for Fixed Deposit Closure for Investment Opportunities
I, [Your Name], holding a Fixed Deposit (FD) account with your esteemed bank, kindly request the closure of my Fixed Deposit account bearing number [FD Account Number]. The Fixed Deposit was initiated on [Date of FD Start] and is due to mature on [Date of FD Maturity].
I have decided to close the FD account prematurely due to some lucrative investment opportunities that I have recently come across. I believe that investing in these opportunities will yield better returns in the long run. I understand that closing the FD account before its maturity date may result in a reduced interest rate and a penalty, as per the bank’s terms and conditions.
Please find the original Fixed Deposit Receipt enclosed with this application. I kindly request you to close the FD account at the earliest and transfer the maturity amount (principal + accrued interest) to my savings account number [Savings Account Number] with your branch.
I would also like to apologize for any inconvenience this request may cause to the bank. I assure you that I have thoroughly evaluated the alternative investment options and made this decision after careful consideration. I appreciate your understanding and prompt assistance in this matter.
[Your Contact Number]
Application to Revoke Fixed Deposit Auto-renewal and Request Closure
The Branch Manager,
Subject: Application to Revoke Fixed Deposit Auto-renewal and Request Closure
I, [Your Name], am holding a Fixed Deposit (FD) account (FD Account No. [FD Account Number]) with your esteemed bank since [FD start date]. The fixed deposit is set to auto-renew on maturity, and the current maturity date is [Maturity Date]. However, due to my current financial requirements, I wish to revoke the auto-renewal option and request the closure of my fixed deposit account upon its maturity.
Kindly process my request and deposit the matured amount (including the interest earned) into my savings account (Account No. [Savings Account Number]) on the date of maturity. I would appreciate it if you could provide me with a written confirmation of the same at your earliest convenience.
Please let me know if any additional information or documentation is required to proceed with the request. I am enclosing a photocopy of my fixed deposit receipt for your reference.
Thanking you in advance for your assistance.
Application for Fixed Deposit Account Termination After Maturity Date
The Branch Manager,
Subject: Application for Fixed Deposit Account Termination After Maturity Date
I, [Your Name], holder of Savings Account number [Account Number], had opened a Fixed Deposit Account bearing number [FD Account Number] on [Date of Opening] in your esteemed bank. The maturity date of the Fixed Deposit was [Maturity Date]. I now wish to terminate this Fixed Deposit Account post its maturity.
I kindly request you to close the said Fixed Deposit Account and transfer the maturity amount, along with any interest accrued, to my Savings Account number [Account Number]. I have attached a photocopy of my passbook, Fixed Deposit receipt, and a cancelled cheque for your reference.
Your prompt action in this matter would be highly appreciated. Kindly acknowledge the termination of my Fixed Deposit Account and inform me once the transfer of funds has been completed.
Thanking you in anticipation.
[City, Postal Code]
Date: [Date of Application]
Application to Consolidate Multiple Fixed Deposits and Close Accounts
The Branch Manager,
Subject: Application to Consolidate Multiple Fixed Deposits and Close Accounts
I, [Your Name], maintain multiple fixed deposit accounts at your esteemed bank. I would like to request the consolidation of these fixed deposits and the closure of the respective accounts.
The details of my fixed deposit accounts are as follows:
1. Account Number: [FD Account No. 1]
Amount: [Amount 1]
Date of Maturity: [Maturity Date 1]
2. Account Number: [FD Account No. 2]
Amount: [Amount 2]
Date of Maturity: [Maturity Date 2]
3. Account Number: [FD Account No. 3]
Amount: [Amount 3]
Date of Maturity: [Maturity Date 3]
Please consolidate the above fixed deposits and credit the total amount to my savings account (Account Number: [Savings Account Number]) upon the maturity of each fixed deposit. Subsequently, I request the closure of the above-mentioned fixed deposit accounts.
I am enclosing copies of my fixed deposit certificates as required. Kindly acknowledge this application and carry out the requested actions at the earliest. Please inform me when the consolidation and closure process is completed.
Thank you for your prompt attention to this matter.
[City, State, Postal Code]
Date: [Date of Submission]
How to Write Fixed Deposit Closure Application Letter to Bank Manager
Some writing tips to help you craft a better application:
- Begin with your name, address, and contact details.
- Include the date of writing the letter.
- Add the bank manager’s name, bank name, and branch address.
- Choose an appropriate subject line such as “Request for Fixed Deposit Closure.”
- Start the letter with a formal salutation, like “Dear Sir/Madam.”
- Introduce yourself and mention your fixed deposit account number.
- Explain the reason for closing the fixed deposit account.
- Specify the maturity date of the fixed deposit.
- Request a prompt closure of the account and the balance to be transferred to your savings account or disbursed via check.
- If required, attach relevant documents for proof and reference.
- Provide your savings account details for the transfer.
- Thank the bank manager for their assistance and cooperation.
- Close the letter with a formal sign-off, like “Yours sincerely,” followed by your name and signature.
I am sure you will get some insights from here on how to write “fixed deposit closure application letter to bank manager”. And to help further, you can also download all the above application samples as PDFs by clicking here.
And if you have any related queries, kindly feel free to let me know in the comments below.