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.