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)
- Click on the link Upload Documents and attach the FD cancellation request.
- Input required details in Request Description field and click on Proceed.
- Review the details.
- Accept the terms and Conditions and click on Submit.
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.