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| Name of the scheme | 1-year back | Invest now | Fund category | expense ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest now | Equity: Big Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest now | Equity: Big Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest now | Equity: Big Cap | 0.25% |
| Axis Nifty 500 Index Fund | , | Invest now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest now | Equity: Mid Cap | 0.28% |
A fixed deposit is a financial device that allows individuals to deposit a lump sum for a fixed period at a predetermined interest rate. This interest rate is often higher than provided by traditional savings accounts.
In maturity, the major amount and accumulated interest is returned to the investor. They can also choose the option to receive their deposits, such as monthly or quarterly to receive periodic interest payments.
These deposits can live from a few months to many years, which depends on the needs of the person and the options of the institution. During the deposit period, the interest rate is fixed regardless of the market, regardless of the ups and downs in the market, which gives investors a sense of security.
Under fixed deposits, your money is blocked for a predetermined period. However, if you need immediate money, you can choose a premature return of fixed deposits.
Premature return from a certain deposit/partial return
You can withdraw your fixed deposit early in terms of emergency. If you break the deposits ahead of time, the bank will impose a fine from you. Prematurely fixed deposits withdrawals are classified into two types: partial or complete.
You can request to close online or offline either before the time of fixed deposits. Navigate on the fixed deposit tab in your NetBanking account and request an initial return. You can also request a return to the person in your nearest branch. Subsequently, the cash will be transferred to the linked account.
However, most banks do not allow partial withdrawal of fixed deposits through Netbanking.
How to withdraw money from FD after maturity
When your fixed deposit matures, you can withdraw the entire amount or create a new fixed deposit. If you want to separate or withdraw your deposit on maturity, you can make it online or offline.
Online method:
step 1: Log in your online banking with your credentials.
step 2: Go to section for fixed deposits.
step 3: Find out the option of ‘FD FD’ or similar option.
step 4: Choose the fixed deposit from which you want to withdraw money.
Step 5: Follow the instructions to eliminate the evacuation process.
By following these steps, you can easily withdraw money directly into your savings or current account with a few clicks.
Offline method:
step 1: Go to the branch of the bank where you have your fixed deposit account.
step 2: To prove this, submit your fixed deposit certificate that you intend to withdraw money on maturity.
step 3: Fill and sign the return form (FD maturity application).
step 4: Once verified, the principal and accumulated interest will be transferred to your savings account.
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