Can Tax Saving FD created online be maintained without associated Saving account?

POSTED BY Saravanan ON February 8, 2013 8:13 pm ONE COMMENT

Hi My friend is having a Tax Saving deposit with CITI Bank. Looks like they are going to convert all non salary Suvidha account to Citibanking account which requires min monthly relationship value of 1Lakh. If he chooses to close the saving accout, Is it possible to close it? If yes, Can he just continue only the Tax Saving FD alone as the seperate accout?

One reply on this article “Can Tax Saving FD created online be maintained without associated Saving account?”

  1. Dear Sarvanan, please check with CITIbank, in my personal opinion, as the Fd was opened online & thus was linked with that Sb acct. closing the SB acct. ‘ll create issues, later on. Please cross check the issue with CITI bank as your friend can not break the Tax saving FD in between so in a sense, if CITIbank persists for continuation of linked SB acct. he w’d have to continue.

    Thanks

    Ashal

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