When writing a request letter for closing a Certificate of Deposit (CD) account, clarity and politeness are essential. Clearly state your intention to close the CD account, providing necessary details such as account number, invested amount, tenure, and reason for closure. Politely request the closure of the account at the earliest convenience.
Table of Contents:
- Sample Letter
- Live Editing Assistance
- How to Use Live Assistant
- Additional Template Options
- Download Options
- Share via Email
- Share via WhatsApp
- Copy to Clipboard
- Print Letter
- FAQs
Sample Request Letter for Closing CD (Certificate of Deposit)
To,
The Manager,
_________ (Bank Name),
_________ (Branch Address)
Date: __/__/____ (Date)
Subject: Request Letter for Closing CD (Certificate of Deposit)
Respected Sir/Madam,
My name is _________ (Name), and I hold a ___________ (Type of bank account – savings/current/other) in your branch, with the account number _________ (account number).
I am writing to request the closure of my Certificate of Deposit (CD) account. This CD account was initiated in _________ (time/year). The reason for this request is ______ (mention reason for closure).
Details of my Account for reference:
Certificate of Deposit Account Number: _________
Account Holder Name: _________
Invested Amount: _________
Tenure: _________
ROI: _________
I request you to kindly close my CD account at your earliest convenience. I shall be obliged.
Thanking you,
Regards,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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FAQs
- What is a Certificate of Deposit (CD) account?
- A CD account is a fixed-term deposit offered by banks with a predetermined interest rate.
- Can I close my CD account before its maturity date?
- Yes, CD accounts can be closed before maturity, but early withdrawal may result in penalties or loss of interest.
- What documents are typically required to close a CD account?
- Generally, identification documents and a signed request letter are required to close a CD account.
- Will there be any charges associated with closing a CD account?
- Banks may impose early withdrawal penalties or administrative fees for closing a CD account before its maturity date.
- How long does it take to process the closure of a CD account?
- The processing time for closing a CD account may vary depending on the bank's policies, but it is typically completed within a few business days.
Sandeep Bhandari