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How is premature Fixed Deposit calculated?

mahindra-finance-author

by Mahindra Finance

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March 22, 2024

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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  • Funds cannot be withdrawn during the initial 3 months of the deposit term.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.

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