FD PREMATURE WITHDRAWAL RULE

What is the latest SBI Sarvottam FD interest rate for May 2024, after State Bank of India hiked FD rates

SBI Sarvottam term deposits were launched last year. Depositors will receive higher interest rates than conventional fixed deposits under this FD scheme.

FD rates revised: This bank offers up to 9.10% FD interest to senior citizens, 8.5% rate to others

Utkarsh Small Finance Bank has revised the interest rate on fixed deposits (FDs). The revised fixed deposit interest rate will be effective from May 1, 2024. The updated rates apply to both new fixed deposits and renewals.

Retirement planning: What is the 4% rule for retirement withdrawals?

Withdrawing from retirement corpus: Retirees frequently utilize the 4% withdrawal rule to manage their expenses in their later stages of life. Its primary aim is to maintain a steady stream of income while also preserving an ample amount of funds for the future. Adhering to the 4% withdrawal guideline can notably diminish the possibility of depleting one's savings prematurely, thus increasing the chances of financial stability throughout retirement.

Tax-saving investment: 7.1% interest in PPF or 8.25% returns in VPF; which is a better option to save tax this year?

Tax-saving investment ideas FY23-24: PPF has been a go-to option for traditional investors to save tax while planning for retirement. Is there any other option that offers higher returns, lowers your income tax outgo, and saves money for long-term goals? Yes, Voluntary Provident Fund (VPF). How does it VPF fare when compared to PPF Public Provident Fund (PPF) or Voluntary Provident Fund (VPF) — which is a better option for you to save tax in the financial year 2023-24.

​Can you withdraw Post Office MIS before maturity? MIS premature withdrawal rules and penalties explained

Post Office Monthly Income Scheme Account (MIS): Did you invest in MIS? Then you must know the rules and conditions for withdrawing your money prematurely. Read here to know more about Post Office Monthly Income Scheme Account (MIS) and when is interest paid if you close it prematurely.

Latest Sovereign Gold Bond tranche, new IMPS, NPS withdrawal rules: 6 money changes in February 2024

Here's a look at some of the major changes including NPS partial withdrawal, IMPS new update, SBI home loan campaign offer, Punjab and Sindh Bank’s special FD deadline, latest SGB tranche and more.

If 5-year post office FD is prematurely withdrawn you will get only savings account interest

The premature withdrawal rules for post office time deposits (also known as post office FD) has been revised by the government. The new rules do not allow premature withdrawal of a 5-year post office before it completes four year from the date of deposit. Further, if 5-year post office FD is prematurely withdrawn, then post office savings account interest is paid.

You can't prematurely withdraw 5-year post office FD before 4-years

The finance ministry has revised the rules for post office time deposits (POTD) recently. One of the major change in the rules is that five-year post office FD cannot be prematurely withdrawn before it completes 4 years from the date of deposit. Earlier, rules allowed the breaking of POTD after it completed 6 months from the date of deposit.

How to close a bank FD: Forms and documents to be submitted, interest rate

How to close a bank FD (whether opened online or offline by visiting a bank branch), both on maturity and premature closure.

Penalty on premature withdrawal of post office FD hiked for this tenure

The Department of Post has made changes in the National Savings Time Deposit Scheme for premature withdrawal interest calculation, according to a notification issued on November 7, 2023.

Senior Citizen Savings Scheme (SCSS) rule change: New features you need to know

The Union Government has changed certain rules of the Senior Citizen Savings Scheme (SCSS). All you need to know

Senior Citizen Savings Scheme (SCSS) rule change: Multiple extensions available; when to opt for it, when to avoid

SCSS new rule: A Senior Citizen Savings Scheme (SCSS) pays quarterly interest to the depositors during its tenure of five years. On maturity, the deposited amount is paid back to the SCSS investor. The depositor has the option to extend the scheme by three years. What has changed? Earlier, an SCSS account holder could extend the maturity by only three years. Now, the beneficiary gets the chance to extend the SCSS account multiple times in a block of three years for unlimited times

Senior Citizens Savings Scheme (SCSS) premature withdrawal rules changed; check details

Senior Citizen's Savings Scheme rule change: The government released a notification implementing numerous significant changes to the popular Senior Citizen's Savings Scheme (SCSS).

Yes Bank premature withdrawal penalty on FDs hiked to up to 1%; Check details

Yes Bank has increased the penalty for premature withdrawal from fixed deposits worth less than Rs 5 crore. The new penalty rates took effect on November 3, 2023, according to the Yes Bank website.

NPS withdrawal rules explained: Key things you must know

The National Pension System (NPS) Tier 1 account is the primary pension account and serves as a robust retirement planning tool, offering individuals the opportunity to build a substantial corpus after retirement. Text: Centre for Investment Education and Learning (CIEL)

HDFC Bank Senior Citizen Care FD: Today is the last date to invest in this special FD with higher interest rate

This special Senior Citizen Care FD offers higher interest rate benefits for senior citizens and it was launched in May 2020.

NPS withdrawal rules for Tier 1 account: All you need to know

NPS subscribers can withdraw a maximum of 60% of the accumulated corpus in the Tier 1 account as a lump sum at the time of retirement. If the NPS subscriber faces specific financial emergencies, the NPS allows partial withdrawals, subject to specific terms and conditions.

Premature withdrawal to be allowed on all bank FDs of up to Rs 1 crore: RBI hikes limit of non-callable FDs

Fixed Deposit rule change: RBI has increased the minimum amount for offering non-callable term deposits to Rs 1 crore. Earlier the limit was Rs 15 lakh. So, customers will get an option to prematurely withdraw money from their fixed deposits (FDs) of up to Rs 1 crore. This hike in non-callable FD limit will be applicable to all commercial banks and co-operative banks with immediate effect. All you need to know about RBI's new rule for non-callable FDs.

RBI eases FD rules, allows premature withdrawal on term deposits of up to Rs 1 crore

This bank offers senior citizens up to 9% FD interest rate

Jana Small Finance Bank has revised its interest rates on fixed deposits of less than Rs 2 crore. The interest rate is offered between 3% to 8.50% for tenures ranging from 7 days to 10 years.

IDBI Bank extends Amrit Mahotsav special FDs’ last date: Check details

IDBI Bank has extended the validity date for special FDs dubbed as Amrit Mahotsav FD. IDBI Bank fixed deposit interest rates range from 3% to 6.80% for FD tenures of between 7 days and 10 years for general citizens.

SBI, HDFC Bank FDs: How to close fixed deposit online

Depending on the tenure and amount, FD interest rate varies. However, in cases where there is a premature withdrawal, the bank may charge a penalty if withdrawn before a set period.

Premature withdrawal of bank fixed deposit or a loan against FD? How to decide

Premature withdrawal of bank FD or loan against FD: It may not always be a prudent idea to break off years of savings especially when the money is locked in at an attractive rate and liquidation is likely to result in a significant loss. How to decide when to withdraw your deposit and when to take a loan against it? ET Wealth online explains