Here’s how to pre-terminate your deposit on UnionDigital Bank Time Deposit
UNIONDIGITAL BANK TIME DEPOSIT – This article will teach you the step-by-step process on how to pre-terminate your deposit.
A UnionDigital Bank Time Deposit is ideal if you want to earn higher interest rates compared to your main UnionDigital Bank account.
Although it’s better to keep your funds for the entire term in order to maximize your interest earning and to avoid fees, you can easily withdraw your funds from the UnionDigital Bank app by pre-terminating your deposit.
Remember that you will be charged a pre-termination fee if you choose to close your Time Deposit before the maturity date. The fee is computed based on your loan term and principal amount.
But how can you pre-terminate your deposit?
The first step is to go to the app’s main dashboard and select the Time Deposit product you want to pre-terminate.
Next, you need to check the details of your deposit, select “Pre-Terminate”, and you will receive a prompt confirming your action. After that, you need to click “Yes” to continue to the next step.
You need to review the pre-termination fee as well as the agreement. Keep in mind that the pre-termination fee will be deducted from the principal amount you deposited. Select “Confirm” after reviewing.
The next step is to authenticate your transaction with the biometric scan and you should see a processing screen with your full details and the pending status should be visible on the main dashboard of the app.
Lastly, you need to wait for your Time Deposit to be pre-terminated. You can check on this from the main dashboard of the app.
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