When drafting a request letter to a bank for the release of Fixed Deposit Receipts (FDRs), clarity and politeness are essential. Clearly state the purpose of the letter, including details such as the account type, account number, FD numbers, FD amounts, and the expired Bank Guarantee number. Politely request the removal of the lien from the FDRs and the release of the original FDs. Ensure all necessary documents are enclosed for processing.

Table of Contents:

Sample Letter to Bank for FDR Release

To,
The Branch Manager,
_____________ (Bank Name),
_____________ (Branch Address)

Date: __/__/____ (Date)

Subject: Request for release of FDR’s

Respected Sir/ Madam,

We are holding ________ (type of bank account – current/ checking) account bearing account number __________ (account number) with your branch in the name of __________ (firm name). We had opened fixed deposits __________ (FD Numbers) amounting to __________ (FD Amount) against Bank Guarantee number ______________ in favor of ________________ (Client Name).

The Bank Guarantee has now expired and we are submitting the original hard copies of BG (Bank Guarantee) number _________ enclosed with this letter. You are requested to kindly remove the lien from the above FDRs and release the original FDs.

Thanking you.

Regards,

For ________ (Company Name),
___________ (Signature)
___________ (Your Designation)

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FAQs

  • What is a Bank Guarantee (BG) number, and why is it important in releasing FDRs?
    • A Bank Guarantee (BG) number is a reference number associated with a guarantee issued by a bank to secure a financial transaction. It is important in releasing FDRs as it serves as collateral for the fixed deposits held by the bank.
  • What documents are typically required to accompany a request for the release of FDRs?
    • Documents typically required include the original hard copies of the Bank Guarantee (BG) number associated with the fixed deposits, along with any additional forms or identification documents requested by the bank.
  • How long does it take for the bank to process the release of FDRs after receiving the request?
    • Processing times may vary depending on the bank's internal procedures and workload. However, banks usually aim to process such requests in a timely manner, and it is advisable to follow up with the bank if there are any delays.
  • Can the request for the release of FDRs be submitted electronically, or is a physical letter required?
    • It is advisable to check with the bank's policies regarding submission methods. While some banks may accept electronic requests, others may require physical letters or forms to be submitted for such requests.
  • Is it possible to renew or extend fixed deposits after their release?
    • Yes, many banks offer options to renew or extend fixed deposits upon their maturity. It is recommended to inquire with the bank about the available options for renewing or extending fixed deposits.