Business Studies, asked by vasumeganathan, 11 months ago

Premature withdrawal of deposits

Answers

Answered by blossomag

Explanation:

Premature withdrawal from fixed deposits basically means that the depositor is allowed to close the FD before its term ends. Bank fixed deposits which allow premature withdrawal require depositors to pay a penalty.

Answered by khushi436695

Answer:

For retail term or fixed deposits amount up to Rs. 5 Lakh, the bank will charge a penalty of 0.50% for all tenures for premature withdrawal. For retail fixed deposits amount above Rs. 5 Lakh

Explanation:

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