Can I withdraw my Fixed Deposit prematurely?
Yes, you can withdraw your FD investment done on the Stable Money app anytime. Your principal will be 100% secure and interest will also be applied based on the held tenure.
If you withdraw within 7 days of booking the FD, you will not earn any interest. If you withdraw after 7 days, a 1% penalty will be levied on the applicable interest for the held tenure.
For example, if you booked a 2-year FD of ₹1 lakh at a rate of 8% but withdrew after 1 year, the interest rate applied will be the current rate for a 1-year FD at the time of withdrawal, which is usually lower than the original rate. Additionally, the bank charges a 1% penalty on premature withdrawals, which is deducted only from the interest earned.
The amount will be settled back into the Unity bank savings account.
You can contact us at help@stablemoney.in for further assistance.