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
|

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.

Related articles

Top 10 Mistakes To Avoid When Applying For A Personal Loan

Top 10 Mistakes To Avoid When Applying For A Personal Loan

Applying for a personal loan can be a convenient solution in times of financial need. However, it’s important to tread carefully and avoid certain mistakes that could lead to unnecessary financi...

KNOW MORE

August 26, 2024

Housing Loan 101: 5 step guide on availing a Home loan

Owning a home is probably your biggest dream and achieving it is now possible with a housing loan. Such loans are available for constructing a home or buying a ready or under-construction propert...

KNOW MORE

June 29, 2023

A Layman’s Guide to Mutual Funds

Mutual Funds may sound complicated but are easy to understand. It’s a lucrative platform where you can safely invest your money. Let us dive into its basics and discuss numerous Mutual Fund Inst...

KNOW MORE

June 30, 2023