How to stop auto renewal on IDFC FD

[VibhavBilgoji]

Hi everyone,

I'm facing a bit of a roadblock. I created a Fixed Deposit (FD) with IDFC First Bank get their WOW Secured Credit Card.

The problem is, my FD is set for auto-renewal by default, and I don't have a savings account with the bank. I'm worried about the FD renewing automatically and not receiving the full maturity amount.

I've tried searching within the app, but I couldn't find an option to stop the auto-renewal or get the final total amount after maturity.

 

[SpiesCan'tCatchMe]

I've been in the same boat and know what exactly you need to do.
Let the FD mature and then just close the FD manually you won't be charged anything in the first 7 days
And even if you're late to close the FD let's say after 7 days you'll be only be levied charges on the newly earned interest so your money is completely safe

 

[VibhavBilgoji]

I've been in the same boat and know what exactly you need to do.
Let the FD mature and then just close the FD manually you won't be charged anything in the first 7 days
And even if you're late to close the FD let's say after 7 days you'll be only be levied charges on the newly earned interest so your money is completely safe

its gonna mature next year so i have some time
but can't i tell them via mail to credit the amount to my savings account (in some other bank) after the FD is matured?

 

[SpiesCan'tCatchMe]

its gonna mature next year so i have some time
but can't i tell them via mail to credit the amount to my savings account (in some other bank) after the FD is matured?

Nope I've tried doing everything, the only option for you is the above solution I gave

 

[VibhavBilgoji]

I've been in the same boat and know what exactly you need to do.
Let the FD mature and then just close the FD manually you won't be charged anything in the first 7 days
And even if you're late to close the FD let's say after 7 days you'll be only be levied charges on the newly earned interest so your money is completely safe

can i call the customer care and do this?

 

[xross]

@SpiesCan'tCatchMe did you also have an IDFC WOW card on that FD? You won't get a close option if FD has a lien.

 

[VibhavBilgoji]

@SpiesCan'tCatchMe did you also have an IDFC WOW card on that FD? You won't get a close option if FD has a lien.

so i can close the card and then the FD will also get closed?

 

[Anupama_Jha]

so i can close the card and then the FD will also get closed?

Nope. Only Lien will be removed. FD needs to be separately closed. Either by app or thru customer care

 

[Anupama_Jha]

Hi everyone,

I'm facing a bit of a roadblock. I created a Fixed Deposit (FD) with IDFC First Bank get their WOW Secured Credit Card.

The problem is, my FD is set for auto-renewal by default, and I don't have a savings account with the bank. I'm worried about the FD renewing automatically and not receiving the full maturity amount.

I've tried searching within the app, but I couldn't find an option to stop the auto-renewal or get the final total amount after maturity.

Maturated amount will again get invested back as FD. If u wanna close FD, first u have to close the card

 

[SpiesCan'tCatchMe]

@SpiesCan'tCatchMe did you also have an IDFC WOW card on that FD? You won't get a close option if FD has a lien.

No I had a plain fd

 

[SpiesCan'tCatchMe]

so i can close the card and then the FD will also get closed?

Yes you can close the card and ask them to close the FD