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

How Compound Interest In Fixed Deposits Boosts Your Savings Over Time

Imagine watching your hard-earned money grow while you sleep. That’s the magic of compound interest in Fixed Deposits (FDs), the most popular investment option in India. In this comprehensive gu...

KNOW MORE

March 4, 2024

Flat or Reducing Rate of Interest – Which Option is Best for Your Business?

When it comes to taking out a loan, one of the most critical factors to consider is the interest rate. The business interest rate determines how much you will pay throughout the loan and affects your ...

KNOW MORE

April 16, 2024

Top Benefits Of A Used Car Loan

Are you dreaming of owning your car but worried about the costs? Buying a new car can be expensive, making it challenging to find one that fits your budget. But don’t worry, there’s a solu...

KNOW MORE

April 18, 2024