Guide to Withdrawing TDR and STDR Money from an SBI ATM

Understanding TDR and STDR Deposits

TDR (Term Deposit Receipt) and STDR (Short Term Deposit Receipt) are structured fixed deposit accounts offered by State Bank of India (SBI). These accounts offer a specified interest rate for a fixed period, with TDR typically being a longer-term option and STDR a short-term option. Typically, these funds cannot be directly withdrawn from an SBI ATM. However, you can withdraw money from your linked savings or current account via ATM. If you wish to make a withdrawal from a TDR or STDR before the maturity date, the process will involve additional steps.

Steps to Withdraw Money from an SBI ATM

1. Check the Maturity Date: Before attempting to withdraw from a TDR or STDR, ensure that your account has matured. If you wish to withdraw prematurely, there may be penalties and interest rate adjustments.

2. Visit an SBI ATM: Locate a nearby SBI ATM and proceed as follows:

Insert your SBI debit card into the ATM. Enter your 4-digit ATM PIN to access your account. Select the withdrawal option. Choose the account type (usually savings). Enter the amount you wish to withdraw, ensuring it is within your account balance. Collect your cash and receipt.

Securing Premature Withdrawal

Should you need to withdraw funds from a TDR or STDR before the maturity date, follow these additional steps:

Visit the Bank Branch: Proceed to your nearest SBI branch where you have the fixed deposit. Fill Out a Form: Request and complete the premature withdrawal form. Submit Documentation: Provide any required identification and the completed form to the bank officer. Receive Funds: The bank will process your request and you will receive the funds according to their policy.

Additional Notes

Penalty for Premature Withdrawal: Be aware that withdrawing from a TDR or STDR before the maturity date may incur penalties and could affect your interest rate. SBI's policies may vary, so always check with them directly or visit their official website for the most accurate and current procedures.

Online Banking Option: If you have access to SBI's online banking, you may be able to close the deposit and transfer the funds to your savings account electronically. However, this option is subject to SBI's specific policies and may not be available for all accounts.

For accurate and up-to-date information, always consult with SBI directly or visit their official website. Stay informed to ensure a smooth withdrawal process and maximize your financial benefits.