The premature withdrawal is permissible with a percentage of interest being forfeited in
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current account is the answer
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It is forfeited in a fixed account.
- Such a withdrawal typically occurs when needed money is taken out of a fixed deposit account before it matures properly.
- It is practiced when the investor needs money at the current time or immediately.
- If there is a better investment alternative than FD, an investor can take out the money before it matures. However, in this case, the forfeiture takes place in a fixed account.
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