How to Withdraw Money From RD Account After Maturity?

Once the tenure of your RD is complete, you are entitled to receive the maturity proceeds, which include both the total monthly instalments you deposited plus the interest earned. But how to withdraw money from RD account after maturity online? As far as I know, there is no online process. You can follow the tips below to withdraw your money from RD:

1. For many banks and post offices, if you have previously selected or linked a savings/current account to your RD account, the maturity amount is often automatically credited to that linked account without you needing to submit a separate withdrawal request. 

2. If not automatically credited, you will need to visit your bank or branch (or in case of a post-office RD, the relevant branch) with your RD passbook or account statement and valid identity proof. Fill out the “maturity withdrawal” form, and then the funds will be disbursed either by cheque, cash (where permitted), or via bank transfer. 

It is also possible to reinvest the matured amount into a new RD if you wish for continuity of investment, rather than withdrawing it for spending. In that case, you inform the bank of your instruction regarding renewal or reinvestment.

Before pulling out the amount, verify whether any additional formalities are required, such as nomination verification, full KYC compliance, and clearances of any standing instructions linked to the RD.

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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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