Premature withdrawal is permitted provided the fixed deposit has completed more than 3 months from the date of issuance.
Premature withdrawal is possible subject to RBI regulations. Some of the conditions are -
(a) Up to 3 months from date of Deposit:
Withdrawal of the Deposit is not permitted except in case of death of the depositor.
(b) After 3 months but before 6 months from the date of the Deposit:
Withdrawal of the Deposit will be permitted; however, interest shall not be payable.
(c) After 6 months but before the date of maturity of the Deposit:
Withdrawal of the Deposit will be permitted. Interest shall be payable at a rate that is 2% lower than the rate specified at the time of opening the deposit.
Income tax wherever applicable will be deducted at source and remitted to the applicable tax authority by the Company on behalf of the depositor, before the premature withdrawal of deposit(s).
If you still wish to withdraw the FD amount post 3 months, kindly provide below mentioned documents from your registered email address to 'wecare@bajajfinserv.in' so that they can assist you further.
1. Written request letter by mentioning FD number with depositor(s) signature
2. Scanned copy of FDR hard copy
Please note:
Lock in period for any FD is 3 months before which FD cannot be withdrawn. However, for premature withdrawal there are penalty slabs as follows:
| Premature Withdrawal Grid | |
| Month of withdrawal | Applicable Penalty |
| 0 to 3 months | No withdrawal permitted |
| 3 to 6 months | No interest payable |
| 6 to 11 months | 3% lower than the lowest rate across all schemes |
| 12 months to Date of Maturity | 2% lower than the interest rate applicable for the period for which the deposit has run. |