What happens if I close my Fixed Deposit (linked to Fi) before the maturity date?
If done before the maturity date you set, there's a pre-closure fee. It's 1% of the interest rate.
To close and withdraw the cash in a Fixed Deposit, go to the Fixed Deposit Page:
Tap on the Fixed Deposit you want to close.
Tap on Settings, and select Close Fixed Deposit (on the top right).
Pro-Tip: If you want to avoid paying a pre-closure fee:
Open a Fixed Deposit – between ₹1,000 and ₹15 lakh – for less than 15 days. This way, you can avoid the pre-closure fee even if you close before the maturity date.
Our partner bank hosts your Savings Account and follows all security standards per applicable regulations.
Your money is always safe with our banking partner - Federal Bank, is covered under the Deposit Insurance and Credit Guarantee Corporation Scheme. This insures your money up to ₹5 lakh.
Fi itself is not a bank and doesn’t hold or claim to have a banking license.