Question

What are the disadvantages if the money is withdrawn from a fixed deposit without maturity?​

Answer 1

Answer:

Fixed deposits, with premature withdrawal facility, allow the depositor to close the FD before the date of maturity arrives. This comes as a relief in times of cash crunch. However, a certain amount may be required to be paid by the depositor as a penalty to the bank. This usually ranges between 0.5% and 1%.

Explanation:

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Answer 2

No flexibility to access your funds

If you do withdraw your money from your fixed deposit account before the agreed maturity date, you will likely be penalised in the form of reduced interest or penalty fees.❤❤❤