Unforeseen events warrant immediate cash flow, where investors could opt for withdrawing money from their investment tools before maturity. Despite their name, Fixed Deposits enable premature withdrawals so you can tend to emergencies with immediate cash flow.
Before you proceed with withdrawing money before maturity, here’s what you should know about premature FD withdrawals:
Most financiers enable you to break FDs online, to save time and evade unnecessary hassle. You can visit the website, and understand the processes better, so there’s no need to go about with mundane paperwork or appointments in person.
Whether you consider online or offline processes, make sure your documentation and paperwork is organised so you can avoid lags.
Breaking your FD prematurely may result in loss of returns, as principal amount is withdrawn before maturity.
To avoid such situations, where you need to withdraw your funds before maturity, you can look for investing for shorter tenor. Managing multiple FDs is rather, quite profitable and can help you accumulate greater returns, while helping you address liquidity needs during emergencies.
You can also consider taking a loan against your FD amount. With Bajaj Finance, you can cater to any emergencies by taking an easy loan against your fixed deposits.
It is a simple process, where you can avail a high loan amount against your Fixed Deposits for lower interest rates. This helps you manage your finances easily, without having to worry about your emergency cash flow needs. You need not disturb your investment, and can simultaneously look for handling other ad hoc requirements with greater ease.
Still have any doubt? Visit Bajaj Finance Contact Details.
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