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Manage Fixed Deposit Account

Learn how to close a fixed deposit using ZWITCH APIs.

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Listed below are the various actions available to manage fixed deposits.

  • Close Fixed Deposit: Close the fixed deposit and transfer money to the savings or current account linked to the fixed deposit.

Close Fixed Deposit

Account holders can prematurely close fixed deposits. When they do this, the balance in the fixed deposit account is transferred to the linked savings or current account.

Use the below endpoint to close a fixed deposit.

https://api.zwitch.io/v1/accounts/{account_id}/close

Below is a sample response for a Close Fixed Deposit API.

{
  "id": "fd_9asdasdsadasd2342asd",
  "object": "account.fixed_deposit",
  "type": "fixed_deposit",
  "linked_to_account_id": "sa_Ov7T4kb7SiRTuTELfq0BZNxcP",
  "amount": 300,
  "tenure_in_months": 10,
  "maturity_instruction": {
    "auto_renew": "no",
    "payout_frequency": "quartely"
  },
  "nominee": [
    {
      "name": "Ram Reddy",
      "relation": "son",
      "address": "221B Baker Street",
      "city": "Bangalore",
      "postal_code": "560005",
      "state_code": "KA",
      "date_of_birth": "2020-12-31",
      "guardian": {
        "name": "Gita Reddy",
        "relation": "mother",
        "address": "221B Baker Street",
        "state_code": "KA",
        "city": "Bangalore",
        "postal_code": "560005",
        "mobile_number": "9876543210"
      }
    }
  ],
  "status": "closed",
  "fd_account_number": "282139812831232",
  "device_data": {
    "latitude": 12.12,
    "longitude": 12.12,
    "ip_address": "121.122.1.1"
  },
  "interest_rate": 3.69,
  "maturity_amount": 369,
  "maturity_date": "2022-12-31",
  "settled_amount": 365,
  "closed_date": "2022-11-25",
  "metadata": {
    "key_1": "DD",
    "key_2": "XoF"
  },
  "created_at": 1658991892,
  "updated_at": 1658991892,
  "is_sandbox": false
}

Use the links below to learn more about our Fixed Deposit APIs.

Updated over 1 year ago