FD Premature Withdrawal Penalty Calculator HDFC

Banks and other non-banking financial institutions offer fixed Deposits. The amount that you put in the account will allow you to earn pre-determined interests for a given period. However, in case of premature withdrawals, the bank will require us to pay a penalty fee for breaking the deposit.

Read more
Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns+
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

An Overview

The FD Premature Withdrawal Penalty Calculator HDFC is an excellent way of calculating the penalty fee that you will owe to the bank. The fee can range from 0.5% to 1%. 

Most of the fixed deposit accounts come with a premature withdrawal. This entails that you are allowed to make a partial withdrawal before it reaches maturity. However, it's noteworthy to mention that you will need to pay the required penalty fee specified by the bank. 

In this case, Premature Withdrawal Penalty Calculator HDFC can assist you in understanding the costs that will be levied. So, you will need to conduct thorough research of the terms of the account. 

Guaranteed return plan Guaranteed return plan

How Does HDFC FD Premature Withdrawal Penalty Calculator Work?

You will need to understand the process of the closure of your fixed deposit. In this regard, the first step you can take is simply to request the bank. Upon the receipt of the request, the bank will initiate the termination of the term. 

Furthermore, we will need to bear in mind that the closure interest rate will be lower than the base rate. This will, however, apply to deposits that are lesser than Rs 1 crore. In addition to that, the bank will charge you a penalty fee for partial withdrawals as well as the sweep-ins. 

In addition, the HDFC bank charges you a fee of 1% that is applicable on the base rate. However, if the partial withdrawal is being made within 7-14 days, the penalty may be waived. 

For example,

If you have an FD account with Rs 2 lakh for one year, and suppose the interest rate at that time was fixed at 6%. However, to meet a financial obligation, you break the FD after six months. In this case, you will be offered the interest rate applicable in these six months, not the one you were contracted to receive. 

You will need to fill in the required information on the FD Premature Withdrawal Penalty Calculator HDFC, and it will do the necessary calculations for you. 

People also read: HDFC Life Midcap Momentum Fund

How Can it Help?

FD Premature Withdrawal Penalty Calculator HDFC offers you an easy and elegant option to calculate your interest and penalties. Just in case you're considering a partial withdrawal, the tool will be instrumental. 

We can fill in the required information, and the FD Premature Withdrawal Penalty Calculator HDFC will handle the rest. The tool is very convenient, and we don't have to indulge in complex calculations.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

FD Rates articles

Recent Articles
Popular Articles
BOI Current Deposits Plus Scheme

10 Jun 2024

The BOI Current Deposits Plus Scheme is a unique option for
Read more
BOI Capital Gains Account Scheme

10 Jun 2024

The Capital Gains Account Scheme, 1988, offered by the Bank of
Read more
BOI Star Flexi Recurring Deposit

10 Jun 2024

The BOI Star Flexi Recurring Deposit, offered by the Bank of
Read more
BOI MACAD - Star Motor Accidental Claimant Annuity Deposit

10 Jun 2024

BOI MACAD is a scheme by the Bank of India to handle
Read more
Bank Of India Super Special Deposit Account - Star Super Special Deposit Account

10 Jun 2024

The BOI Super Special Deposit Account, also known as the Star
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit
Read more
Which Bank has the Highest Interest Rate for Fixed Deposit?
The Small Finance Banks offer the highest FD interest rates for a tenure between 7 days to 10 years. Unity Small
Read more
SBI Fixed Deposit Monthly Income Scheme
Fixed deposits are the safest investment vehicles for Indian financial planners. You can open a fixed deposit
Read more
SBI Fixed Deposit Double Scheme
The SBI Fixed Deposit Double Scheme is named Special Term Deposit to cater to investors looking to double their
Read more
Nominee Vs Legal Heirs for Fixed Deposits
Fixed deposits are a popular investment option for individuals who wish to earn a stable rate of interest on
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL