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How to Close/Liquidate a Term Deposit(TD)/Fixed Deposit(FD) in Next Gen CIB? Print

To close or liquidate a term deposit (TD) or fixed deposit (FD) account, follow these steps:


Step 1: Log in to iBusiness using your user and go to Services & Reports > Service Request

  • Click on Digital Documentation > Term Deposit Management
  • Select Request: TD Liquidation to Account in the Same RIM - (Fixed Deposit Liquidation Request)

Step 2:  

  • Click on the link Upload Documents and attach the FD cancellation request.
  • Input required details in Request Description field and click on Proceed.

Step 3:  

  • Review the details.
  • Accept the terms and Conditions and click on Submit.


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Step 4: Authentication via paired device to proceed

  • You will receive a notification on your mobile device to authenticate the transaction.
  • Once authenticated, you will be navigated to the confirmation screen with a reference number generated.


Step 5:  In the case of the maker/checker, the request is required to be approved by Checker/Approver before it reaches the bank for completion.

  • Post Initiating the request, it will move to the Approvers queue for action.
  • The Approver should log in to iBusiness and click on the Transactions Hub and go to Pending your Authorizations. 
  • The Pending items for the action will be available under transaction type Service Request.
  • Approver can review the details and act (Approve/Reject) on the request initiated.

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