SBI FD premature withdrawal charges and other details here
State Bank of India (SBI) charges a penalty for premature withdrawal of an FD account
SBI gives 4.50% to 6.4% interest on FDs ranging from 7 days to 10 years
Fixed deposits (FDs) are popular investment options for people. FDs can be broadly categorised into two types – with premature withdrawal and without premature withdrawal. FDs with premature withdrawal facility allow the depositor to close the term deposit even before the maturity period. However, a certain amount may be required to be paid by the depositor as a penalty to the bank. Banks such as State Bank of India (SBI), ICICI, HDFC Bank, Kotak Mahindra Bank have their own specific terms and conditions for those who are willing to withdraw their money from the fixed deposits before the completion of the maturity period.