Can I redeem my fixed deposits (FD) before the original term?Yes, an FD can be closed before its original term.
03 Dec 2008
Yes, an FD can be closed before its original term. If the FD is closed before completing the original term of the deposit, the interest will be paid as per the interest rate applicable on the date of deposit, for the period the deposit has remained with the bank. Some banks may also charge a penal rate of interest as prescribed by the bank on the date of deposit.