Is there penalty on pre-mature withdrawal from bank’s fixed deposit

[samkapoor77]

I have a savings bank account with HDFC bank. I have opted for auto-sweep facility. I will have to prematurely some money from my fixed deposit initially created by auto-sweep. I want to know whether I will be charged any penalty or not. How much interest will I get on this amount?

[samkapoor77]

You can withdraw the amount with ease for there is no such penalty on pre-mature withdrawal. As far as interest is concerned, it will depend on the rate of interest and period for which the deposit was held with the bank.

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