According to HDFC Bank’s website, the applicable interest rate for premature closure is lower of –

HDFC Bank levies a penalty of 1% on the applicable rate in case of premature withdrawal, including sweep-ins and partial withdrawals. HDFC Fixed Deposit Premature Withdrawal/Closure Rule Axis bank doesn’t allow premature withdrawal from a 5-year Tax Saver Fixed Deposit. In case of partial withdrawal, there is no penalty on the first partial withdrawal of up to 25% of the principal amount. In case of premature withdrawal from Axis Bank fixed deposit, there is a 1% penalty if the full amount is withdrawn. The bank’s website says that the “interest rate payable would be contractual rate minus 1% or the rate under the scheme on the contractual date applicable for the tenor for which the deposit has actually run minus 1%, whichever is lower.” Axis Bank Fixed Deposit Premature Withdrawal/Closure Rule The Punjab National Bank (PNB) charges 1% penal interest at the time of premature cancellation/part withdrawal of domestic term deposits for all tenors. Should you invest in Fixed Deposit or Recurring Deposit? Check the differenceĪlso Read: SBI Fixed Deposit Interest Rates 2022 vs HDFC Bank FD vs Post Office Time Deposit: Which is better? PNB Fixed Deposit Premature Withdrawal/Closure Rule

Hdfc fixed deposit early withdrawal