Introduction

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Managing your United Bank of India (UBI) recurring deposit (RD) account can be made efficient and convenient by following the right process. This guide will walk you through the steps to close your UBI RD online if you opted for an online RD account. If you have a physical account, you may need to visit a branch.

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Why Close a Recurring Deposit?

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Closing your recurring deposit could be advantageous for various reasons. You might want to utilize the accumulated funds for a different financial goal, reallocate your funds, or simply discontinue the recurring deposit.

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Prerequisites for Online Closure

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To perform online closure of a recurring deposit in UBI, you must have:

r r r A well-functioning UBI online banking profiler Internet access and a stable connectionr Your recurring deposit account details including the bank reference numberr r r

Steps to Close a Recurring Deposit Online in UBI

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Step 1: Log In to Your UBI Online Banking

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The first and foremost step is to log in to your UBI online banking system. Once logged in, you should be directed to the dashboard.

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Step 2: Navigate to the Recurring Deposit Section

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Click on the 'Recurring Deposit' or 'RD' option in the navigation menu. This section will contain options for opening, closing, and managing your RD accounts.

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Step 3: Select the Option to Close the RD

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Within the recurring deposit section, find and click on the 'Close RD' or 'Close Recurring Deposit' option. This will prompt a form where you can select the account you wish to close.

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Step 4: Enter Relevant Account Details

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Provide the necessary details such as the id or reference number of the recurring deposit you intend to terminate. Ensure all details are accurate for a smooth transaction process.

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Step 5: Review and Confirm

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After entering the details, review them carefully before confirming. Upon confirmation, the recurring deposit closure process will initiate, and you will receive confirmation about the successful closure of the RD.

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Additional Tips

r r r Ensure you have sufficient funds in your account to cover any closure fees if applicable.r Keep a record of the transaction for your own reference.r Check your bank statement regularly to ensure there are no pending transactions or fees.r r r

Conclusion

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With the aforementioned steps, you can easily close your recurring deposit in United Bank of India online. This process saves you from the inconvenience of visiting a physical branch, making it a convenient and favorable option for today's digital age.

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Frequently Asked Questions (FAQs)

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What happens to the recurring deposit after I close it online?

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Once you have closed your recurring deposit online, the amount along with the accrued interest will be credited to your account, in most cases, the same day.

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Can I close my recurring deposit account if I have deposits pending?

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No, you cannot initiate the closure process if you have any pending deposits in the account. You will have to sort out those pending deposits first before proceeding with the closure.

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Are there any additional costs associated with online closure of a recurring deposit?

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Generally, there are no additional costs associated with online closure of a recurring deposit. However, it is advisable to check with the bank for any potential charges.