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

Mutual fund vs fixed deposit: Differences you should know

Are you wondering where to park your hard-earned savings? Fixed Deposits (FDs) and Mutual Funds (MFs) are two prominent choices for you in the investment arena, and understanding the nuances of FD vs ...

KNOW MORE

February 7, 2024

What-Is-The-Difference-Between-Prime-And-Subprime-Car-Loans

What Is The Difference Between Prime And Subprime Car Loans?

Introduction Are you considering buying a car but unsure about financing options? Understanding the difference between prime and subprime car loans can help you make an informed decision. These types ...

KNOW MORE

July 24, 2024

What is APR On a Car Loan?

You have finally found your dream car! But before driving off into the sunset, there’s an important financial aspect you need to understand: the Annual Percentage Rate (APR) on a car loan. ...

KNOW MORE

April 17, 2024