Is there a penalty for premature withdrawal?

Modified on Tue, 14 Nov, 2023 at 4:32 PM

You should check for both, lock-in period and/or premature withdrawal penalty, before placing the FD as these are applied by the FD issuer. During the lock-in period, if any applicable, you will not be able to place a withdrawal request. And the premature withdrawal penalty, if any, is applicable if the FD is withdrawn before the maturity date.

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