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Is premature withdrawal permitted?

April 26, 2017permitted premature withdrawal

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Is premature withdrawal permitted?

1 Answer

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Yes. Premature withdrawal can be done after 3 months from the date of deposits / renewal as per the directions of Reserve Bank of India in force from time to time.However, reduction of 3% in the interest rate is applicable for one year it is preclosed before completion of one year and reduction of 2% in the interest rate applicable for the period upto which the deposit is held after completion of one year.