Bajaj Finance Premature FD Withdrawal

If there's any unforeseen expense, you can withdraw the funds that you've parked in a fixed deposit before its maturity date. This is called the premature withdrawal of a fixed deposit. However, you can raise a request for premature withdrawal.

Rules for Premature FD Withdrawal

Bajaj Finance offers its customers the option of premature withdrawal of FD. The guidelines for the same are:

1. Up to 3 (three) months from date of Deposit: Withdrawal of the Deposit is not permitted. However:
    

   i. In the event of death of a depositor, the Company may repay the Deposit prematurely (irrespective of the lock in period) to the surviving depositor (which in the case of joint holders will be the first in the sequence of applicants in the Application) or to the nominee/legal heir(s) of the deceased depositor, upon the request of surviving depositor/s/nominee/legal heir, as the case may be, and subject to submission of proof of death and other requisite documents to the satisfaction of the company.
    

   ii. In case depositor wants premature withdrawal of his Deposit for expenses of emergent nature including on account of facing any medical emergency or expenses due to natural calamities or disaster, partial prematurity of the deposits is allowed upto lower of 50% of principal or Rs. 5 lacs. Expenses of emergent nature are subject to verification/evaluation of case as per BFL policy.
    

   iii. Premature withdrawal of Deposit Amount on account of suffering on account of Critical illness, 100% of principal amount of Deposit shall be paid to the depositor, without interest. For the purposes of this clause definition of 'Critical illness', shall be as per IRDAI (Health Insurance) Regulations, 2016 and the guidelines issued thereunder, as amended from time to time.

   
   

   iv. Deposits aggregating not exceeding an amount of Rs. 10,000 of principal amount ("Tiny Deposit") will be prematurely paid to individual depositor or first named Depositor holding the Deposit in the same capacity in all the Deposits, at the request of the depositor, without interest.
   
    

2. After 3 (three) months but before 6 (six) months from the date of the Deposit: Withdrawal of the Deposit will be permitted; however, interest shall not be payable.
    
3. After 6 (six) months but before the date of maturity of the Deposit: Withdrawal of the Deposit will be permitted. Interest shall be payable at a rate which is 2% lower than the rate specified for the period during which the deposit has been opened. In case no rate is specified for the Deposit period, interest rate payable shall be 3% lower than the lowest rate being offered by the company.
    

You can raise a request for premature withdrawal of fixed deposit by logging in to the service portal with Bajaj Finance.

Step by Step Guide on Premature FD Withdrawal Process

• Click on the 'Sign-in' button on this page to visit our service portal.
• Enter your registered mobile number and submit the OTP to sign-in.
• Verify your details with your date of birth and proceed to visit our 'Raise a Request' section.
• Go to 'Service' and click on 'Relations'
• Select 'Fixed Deposit', click on 'Premature withdrawal'
• Check premature withdrawal breakup and click on 'Proceed'
• Enter the OTP and click on 'Submit'

You can also directly visit the service portal by clicking on 'Apply for a premature withdrawal of FD' below. Once signed-in, you'll be redirected to the 'Raise a Request' section. You can then select your FD, enter the relevant query and sub-query type, and proceed to submit. Once you submit the request, our representative will reach out to you within 48 business hours to guide you on further steps.
 

In case you need funds and wish to withdraw your fixed deposit before its maturity date, you can use this facility. You can withdraw your FD before its maturity date by raising a request with us.