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Nairaland Forum / Nairaland / General / Business / Can Someone Withdraw Money From Fixed Deposit Before Maturity? (20014 Views)
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Can Someone Withdraw Money From Fixed Deposit Before Maturity? by LagosEmir: 8:57am On Jan 17, 2022 |
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, 2022 |
Yes |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nobody: 9:28am On Jan 17, 2022 |
Yes |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Justiceleague1: 10:38am On Jan 17, 2022 |
DubaiLandLord2: 3 Likes |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nobody: 10:43am On Jan 17, 2022 |
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, 2022 |
Wa |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nonexisting: 3:36pm On Jan 17, 2022 |
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, 2022 |
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, 2022 |
Well it depends 1 Like 2 Shares |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by alizma: 3:37pm On Jan 17, 2022 |
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, 2022 |
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
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Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by andy244: 3:37pm On Jan 17, 2022 |
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, 2022 |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Godfullsam(m): 3:37pm On Jan 17, 2022 |
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, 2022 |
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, 2022 |
Ok |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ILoveDemMANNA: 3:38pm On Jan 17, 2022 |
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, 2022 |
Here to read comments 1 Like |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ENIGMATIC2023(m): 3:38pm On Jan 17, 2022 |
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, 2022 |
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, 2022 |
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: 3:38pm On Jan 17, 2022 |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by ojun50(m): 3:39pm On Jan 17, 2022 |
Yes yes |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Electrochemistry(m): 3:39pm On Jan 17, 2022 |
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, 2022 |
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, 2022 |
Detty December doings |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Fiscus105(m): 3:39pm On Jan 17, 2022 |
Yes but at reduced interest rate. |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by McOluOmo: 3:40pm On Jan 17, 2022 |
1 Like
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Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Omoluabiii(m): 3:40pm On Jan 17, 2022 |
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, 2022 |
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, 2022 |
Yes but with a penalty 1 Like 1 Share |
Re: Can Someone Withdraw Money From Fixed Deposit Before Maturity? by Nobody: 3:42pm On Jan 17, 2022 |
Yes You are withdrawing at a discount 1 Like 1 Share |
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