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Personal Finance

Need to withdraw an FD before maturity? Find out how much it costs

Updated : April 30, 2020 04:14 PM IST

Fixed deposits, with premature withdrawal facility, allow the depositor to close the FD before the date of maturity.
If the FD is prematurely closed, before completing 7 days from the date of the booking, the bank is however not liable to pay any interest, say experts.
SBI currently charges a penalty up to 1 percent for premature withdrawal of an FD deposit up to Rs 1 crore.
Need to withdraw an FD before maturity? Find out how much it costs

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