Fixed deposit is one of the trending investment options where you can invest for 7 days to 10 years for better returns on investment and for regular income it's all up to you but when it comes to withdrawing premature fixed deposit then you should keep some of the points which will affect your returns or your investment. As we know Fixed Deposit is one of the best way for investment it can be positive somehow because at least you have money for your emergency but some are negatives also. Please read these points for more information.
Penalties: The investor has to pay a penalty to the lender for withdrawing fixed deposits before time. The penalty will be 0.50 % to 1.00 % of the interest. It also depends on the lender's policy.
Loss of Interest: This is very obvious that if you are withdrawing your money then there will be loss of your future returns which you will get from your fixed deposit.
Financial Growth on halt: The planning you had done before investing will also suffer and disturbed because of your withdrawal.
Not A Hassle-Free Process: Withdrawing a fixed deposit amount before maturity time is not a simple process it requires lots of steps and bothering when you go through with this process.
Penalties: The investor has to pay a penalty to the lender for withdrawing fixed deposits before time. The penalty will be 0.50 % to 1.00 % of the interest. It also depends on the lender's policy.
Loss of Interest: This is very obvious that if you are withdrawing your money then there will be loss of your future returns which you will get from your fixed deposit.
Financial Growth on halt: The planning you had done before investing will also suffer and disturbed because of your withdrawal.
Not A Hassle-Free Process: Withdrawing a fixed deposit amount before maturity time is not a simple process it requires lots of steps and bothering when you go through with this process.
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