Question: Can We Withdraw Money From Fixed Deposit Before Maturity HDFC?

Requests cannot be canceled for premature withdrawal, if placed.


Premature Withdrawal of Fixed Deposit HDFC- The bank allows the depositor to withdraw their invested amount even before the completion of the maturity period.5 days ago

What is the penalty for premature withdrawal of fixed deposit?

Premature closure penalty:

Depending on the lender that you have chosen, you may have to pay a significant sum of money as penalty. This could range from 0.55% to even up to 1% of the FD amount.

Can I withdraw fixed deposit before maturity?

Yes, usually you can. You would be paid back the principal amount as well as the interest either at a lower intrest rate or after deducting a penalty. However, as per recent RBI regulations, a bank can also offer fixed deposits with lock-in i.e. the bank can refuse any withdrawal before the maturity period.

Can I withdraw FD before maturity in HDFC?

HDFC Bank allows withdrawal from fixed deposit before the completion of its period as per the terms agreed upon at the time of placing the deposit, according to the bank’s website – However, penalty for premature withdrawal will not be applicable on FDs booked for a tenor of 7-14 days, HDFC Bank said.

Can we withdraw FD before maturity in post office?

The Post Office time deposit scheme, which can be held from a period of 1 year to 5 years, can be withdrawn before the maturity period but it will be subject to a penalty. It is important to note that premature withdrawal cannot be made before 6 months.

What is the penalty for premature withdrawal of fixed deposit in HDFC?

For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1%, on the applicable rate. However, penalty for premature withdrawal will not be applicable for FDs booked for a tenor of 7-14 days.

How can I get early withdrawal from fixed deposit?

The rules include:

  • For retail term or fixed deposits amount up to Rs. 5 Lakh, the bank will charge a penalty of 0.50% for all tenures for premature withdrawal.
  • For retail fixed deposits amount above Rs. 5 Lakh but below Rs. 1 crore, the applicable penalty is 1% for all tenures.

What happens if I break my FD before maturity?

Withdrawing an FD before maturity is known as breaking an FD. When you break the FD, you get a lower rate of interest and also pay a penalty for the premature withdrawal. If you decide to break an FD at 10 months, the interest earned on the FD will reduce by 1%.

How can I withdraw money from HDFC Fixed Deposit?

Breaking or liquidating fixed deposit is easy. Simply login to your net banking account. Go to account > transact > liquidate fixed deposit and there you will see the list of FDs, you have booked. Next, it will give an overview of the penalty charges and interest rate you will get if you break your current FD.

Can I break my 5 years fixed deposit?

1/ The lock in period for such a “Tax saving Fixed Deposit” is 5 years. You can not break this Fixed Deposit before 5 years tenure is over. This is different from any regular Fixed Deposit which can undergo a premature withdrawal. Company Fixed Deposits are not eligible for tax savings through Section 80C.

Can I break my fd online HDFC?

NetBanking Alternatively, you can liquidate your Fixed Deposits through NetBanking. This facility is available to Fixed Deposits held under “Sole Owner (SOW)” relationship only.

Is HDFC Bank safe for fixed deposit?

Axis Bank – The bank offers fixed deposits under reinvestment or quarterly compounding basis. HDFC Bank – The bank offers tax-saving fixed deposits @6% per annum for public and @ 6.5% per annum for senior citizens. The minimum investment is Rs. 100 and the maximum investment is Rs. 1.5 lakh.

Which is better FD or RD?

As you can see, after a year you will receive Rs 26324 in a fixed deposit while in RD you will receive Rs 25195. So the recurring deposit earns you Rs 1039 less than a fixed deposit.. The primary reason for this difference is that in FD you invest a lumpsum amount and so the entire money earns interest for one year.