

Hello people, Fixed deposit commonly known as FD is one of the most availed investment options in India. And in this article, we are here to tell you what will happen if you break your FD before the maturity period.
Fixed Deposit is also a safe way to invest your money in our country. There is no risk to the investor and the return is also guaranteed. It is an investment where the customers deposit some money in their account for a limited time and earns good interest.
FD is such an account in which the money we deposit is locked without any reason. If the investor needs money immediately, then he can use the option of breaking the FD.
Premature withdrawal from Fixed Deposit is called early withdrawal. Deposited does this when He/She is in great need of money.
For Term Deposit up to Rs 5.00 lacs, the penalty for premature withdrawal will be 0.50%. For Term Deposits above Rs 5.00 lacs, the applicable penalty will be 1%.
Although some banks do not mark any penalty on the FD breaker during an emergency or If you invest that money in any other scheme of the bank.
FD is done with SBI Bank with super interest. The tenure of FDs ranges from 7 days to a maximum of 10 years from maturity. All banks have this time of FD. There are 2 ways to SBI Bank. Either let your FD complete the maturity time or you can also make the first withdrawal before the completion of its time.
Log in to the official website of the State bank of India.
Visit the branch of the State bank of India where you made the FD