Wondering how to withdraw money from RD account after maturity. A Recurring Deposit (RD) account is a popular savings scheme offered by banks and post offices in India, allowing individuals to save regularly and earn interest over a fixed tenure.
How to Withdraw Money from RD Account after Maturity Online?
Upon maturity, the account holder can withdraw the accumulated amount, which includes both the principal and the interest earned. Here’s a step-by-step guide on how to withdraw money from an RD account after maturity:
In most banks, if the RD account is linked to your savings or current account, the maturity proceeds are automatically transferred to that account. You’ll receive a notification from the bank regarding the transfer.
For post office RD accounts, the maturity amount is often transferred to the linked savings account, if any.
If the amount is not automatically credited, you may need to visit the branch where the RD account was opened. Carry your RD passbook and a valid identity proof, such as an Aadhaar card, PAN card, or passport.
Fill out the RD maturity withdrawal form provided by the bank or post office. Attach the required documents, such as the RD passbook and ID proof.
The bank or post office staff will verify your details and process the withdrawal request. Ensure all details are correct to avoid any delays in processing.
The maturity amount will be disbursed either as a direct credit to your savings account or as a cash/cheque payment, depending on the bank/post office policies and your preference.
Some banks offer online facilities to withdraw RD maturity amounts. Log in to your internet banking account, navigate to the RD section, and follow the instructions for maturity withdrawal.
If you withdraw before the RD matures, you may incur a penalty and receive a lower interest rate. Consider reinvesting the maturity amount into another RD or fixed deposit for continued savings growth.
This is all about how to withdraw money from RD account after maturity.
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Authors Of The Question
How to Withdraw Money From RD Account After Maturity?
Ajay
2317 Views
1 Answers
6 months
2024-06-27T16:00:28+00:00 2024-06-28T21:37:43+00:00Comment
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