login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

How is premature Fixed Deposit calculated?

mahindra-finance-author

by Mahindra Finance

|

March 22, 2024

|

1 mins read

The guidelines to calculate premature withdrawal of Fixed Deposit are:

  • To maximize your interest earnings, keep your deposit until maturity. Withdrawing between 6 months and maturity incurs a 2% penalty on the interest rate.
  • Funds cannot be withdrawn during the initial 3 months of the deposit term.
  • Withdrawals made between 3 and 6 months will not receive any interest.

Related articles

5 Important Things To Consider Before Applying For A Car Loan

Buying a car is a significant decision that requires careful consideration. Many people opt for a car loan to finance their vehicle purchase, but before you apply for a car loan, there are several imp...

KNOW MORE

April 26, 2024

Building credit while paying off a car loan

Are you thinking of financing a car? Many of us require some form of financing to purchase a vehicle, but have you ever wondered if a car loan can help build your credit? The short answer is yes, but ...

KNOW MORE

April 17, 2024

What are Tax Saving Mutual Funds?

What Are Mutual Funds? Mutual Funds can seem very complex, and therefore, we are here to break that myth and help you understand this simple yet powerful investment option better so you can speed up y...

KNOW MORE

June 30, 2023