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Can Someone Withdraw Money From Fixed Deposit Before Maturity? - Business - Nairaland

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Can Someone Withdraw Money From Fixed Deposit Before Maturity? by LagosEmir: 8:57am On Jan 17
Is it possible to withdraw money from fixed deposits from Nigerian bank before it's maturity?
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Reelstar: 9:26am On Jan 17
Yes
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nobody: 9:28am On Jan 17
Yes
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Justiceleague1(f): 10:38am On Jan 17
DubaiLandLord2:
frustrations grin grin where's your DubaiLandlord daft account? Dem don frustrate your life baaaaahahahahahahhaahaaaaa!!!!
Yes

3 Likes

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nobody: 10:43am On Jan 17
Who is fraustrating your life?

It seems you think I give a dam about anybody on this Nairaland?

Please swerve

I do not have the time for meaningless talk.

4 Likes 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by parzdor(m): 3:36pm On Jan 17
Wa
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nonexisting: 3:36pm On Jan 17
Check the terms and conditions first because you may have to kiss some of your interest goodbye.

67 Likes 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by owelle22(m): 3:36pm On Jan 17
Yes

You can part liquidate

2 Likes

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by jericco1(m): 3:36pm On Jan 17
Well it depends

1 Like 2 Shares

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by alizma: 3:37pm On Jan 17
Yes but you will pay some charges

17 Likes 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by xpressionx(m): 3:37pm On Jan 17
If Sapa hold you.....YES

Naso you go para for account manager wey no gree make you collect your last 1k for Access bank

53 Likes

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by andy244: 3:37pm On Jan 17
Yes you can always liquidate.

1 Like 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by amrichy(m): 3:37pm On Jan 17
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Godfullsam(m): 3:37pm On Jan 17
What is the percentage ROI for a fixed deposit per Yr?
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Fkforyou(m): 3:37pm On Jan 17
Yes.

Apply for partial liquidation. But just note that, at maturity your accrued interest will be affected.

10 Likes 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Kennyfancy(m): 3:37pm On Jan 17
Ok
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ILoveDemMANNA: 3:38pm On Jan 17
Usually, banks impose a penalty of premature withdrawal.
This means if you committed to keeping the Fixed Deposit for one year, but had to withdraw it after 2 months, the bank may impose a penalty.
Even, partial withdrawals attract penalty.

Banks are allowed to charge their own penalty fee in the case of premature withdrawal of Fixed Deposit.
However, most banks charge from 0.5% to 1% of the interest rate and this has to be communicated to the investor before the Fixed Deposit account is opened.

Do remember that no interest will be paid if the Fixed deposit is prematurely withdrawn within 1 year of deposit creation.

I hope this helps OP?

28 Likes 4 Shares

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ElexObi1: 3:38pm On Jan 17
Here to read comments

1 Like

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ENIGMATIC2023(m): 3:38pm On Jan 17
It depends on your agreement with your bank.
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by sonnie10: 3:38pm On Jan 17
What is the current interest rate for fixed deposits above #10M?
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by marosky(m): 3:38pm On Jan 17
Yes. However you may forgo a portion of your interest earned as penal charge.
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Candidlady(f): 3:38pm On Jan 17
undecided
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ojun50(m): 3:39pm On Jan 17
Yes yes
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Electrochemistry(m): 3:39pm On Jan 17
You can do so but with condition of losing interest on maturity.
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by seunlayi(m): 3:39pm On Jan 17
Why can't you? It's your money

2 Likes 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by scribble: 3:39pm On Jan 17
Detty December doings
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Fiscus105(m): 3:39pm On Jan 17
Yes but at reduced interest rate.
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by McOluOmo: 3:40pm On Jan 17

1 Like

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Omoluabiii(m): 3:40pm On Jan 17
Yes, but you will not get the interest again, because you default in the date

1 Like 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by porthouse7(f): 3:41pm On Jan 17
terms abd conditions applies... possible with uba thou

1 Like

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Sirmuel1(m): 3:41pm On Jan 17
Yes but with a penalty

1 Like 1 Share

Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Batam(m): 3:42pm On Jan 17
Yes
You are withdrawing at a discount

1 Like 1 Share

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