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

Download App

Download App

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

|

Can I withdraw my Rs. 10 Lakh FD before maturity?

mahindra-finance-author

by Mahindra Finance

|

February 29, 2024

|

1 mins read

No, you cannot withdraw the amount you deposit in your fixed deposit account before the end of the investment tenure or the maturity date. When you invest Rs. 10 Lakh in FD, you have the flexibility to choose the investment duration; you can invest for a maximum duration of 60 months or five years.

However, if you choose an investment tenure of two years and want to withdraw the funds before the maturity date, you may have to pay a penalty for the same. Also, you will lose all the accrued interest benefits.

Disclaimer:

This blog is for general informational and educational purposes only and does not constitute financial, legal, or investment advice, recommendations, or solicitation. The prices, rates, and financial values mentioned are approximate and subject to change due to regional differences, market fluctuations, regulatory changes, and other factors. Please consult an authorized dealer or financial advisor for accurate and up-to-date details.

The content may include forward-looking statements or projections, which are speculative and subject to risks and uncertainties. Mahindra Finance is not obligated to update these statements to reflect future changes. Any opinions or third-party contributions presented are purely informational and may not reflect the views of Mahindra Finance.

While we strive for accuracy, Mahindra Finance does not guarantee the reliability or completeness of the information provided and disclaims all liability for errors, omissions, or reliance on this content. Readers are advised to verify all details independently and seek professional advice based on their specific needs.

This information applies to Indian regulations and may not be relevant to other jurisdictions. Mahindra Finance is not liable for any direct, indirect, or consequential decisions made based on this blog.

Related articles

Offline-vs-online-business-loan-Which-one-to-choose

Offline Vs Online Business Loan: Which One To Choose

When it comes to securing a business loan, convenience and efficiency are important. That’s where online business loans come in handy. They offer a quick and easy way to borrow money without the...

KNOW MORE

June 17, 2024

SME Loans: The Role Of Government Initiatives In Supporting Indian SMEs

Small and medium-sized enterprises (SMEs) are the backbone of India’s economy, contributing significantly to its GDP and employment. However, accessing formal credit has been a challenge for the...

KNOW MORE

July 24, 2024

What-Is-Home-Loan-Amortisation-Schedule-and-How-It-Works

What Is Home Loan Amortisation Schedule And How It Works

Introduction Buying a home is a dream shared by many in India. To make this dream a reality, most people rely on home loans. However, understanding how to manage these loans and repay them efficiently...

KNOW MORE

July 1, 2024