Tax Saving FD - Bank Merger

JJJ (Need help) (673 Points)

23 April 2022  

I opened a Tax Saving FD in Bank A last year,. I deposited Rs 1.5 lakh in good faith and with full knowledge that I cannot touch it for 5 years.

But now, my Bank A is going to merge with Bank B. As a result, my FD and savings account will be transferred to Bank B.

But I do not want to have anything to do with Bank B. 

Do I have any options here regards the Tax Saving FD?

Can I transfer it to Bank C? Or close the FD?