Suppose Manaswini needs the money urgently for some medical treatment. Can she withdraw it from the Fixed Deposit at the bank? What will happen?
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she can take loan from bank
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Answer:
When a person wants to withdraw money from their fixed deposit account before the maturity period it is known as a premature withdrawal.
Since the rate of interest actually remains the same throughout it is important to remember that when you do decide in going with the premature withdrawal you the interest which will be paid will actually not be according to the original rate but it will be similar to the rate which will be there during the time of the deposit.
Explanation:
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