Question1: When and how can I withdraw my fixed deposit?
Answer:
Fixed deposit proceeds can be withdrawn upon maturity or anytime before the maturity date.
Withdrawal Upon Maturity
Upon maturity of the fixed deposit, the principal amount of the Fixed Deposit and any interest thereon up to the date of maturity shall be transferred to your Investment Account.
Withdrawal Prior to the Maturity Date
Logon to Investment Account and select the 'Premature Withdrawal' before the maturity date.
A service fee will be imposed for premature withdrawals. Effective 1 April 2005, the service fee shall be calculated with reference to interest earned. The interest earned may be partially or fully forfeited from the proceeds upon premature withdrawal and calculated as follows:
| Tenure |
Withdrawal in less than 1 calendar month |
Withdrawal in less than 3 calendar months |
Withdraw in less than 6 calendar months (more than 3 months) |
|
| 1 month |
Any interest earned will be forfeited |
N/A |
N/A |
| 3 months |
Any interest earned will be forfeited |
Any interest earned will be forfeited |
N/A |
| 6 months |
Any interest earned will be forfeited |
Any interest earned will be forfeited |
50% of the interest earned will be forfeited |
|
Exemptions
If the proceeds withdrawn are immediately used for the subscription of unit trusts from finatiQ, the service fee will be waived. Customer can choose to invest the full amount in one or several unit trust subscriptions.
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