BREAKING: OPR increased to 3% unexpectedly, High inflation likely to come soon
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 May 3 2023, 04:55 PM
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863 posts Joined: Apr 2019 
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QUOTE(Knnbuccb @ May 3 2023, 04:54 PM) can always take out and put back in if another better offer comes along What’s the penalty? I’ve seen one with sixty days interest penalty and those with “any early withdrawal = no interest” |
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May 3 2023, 05:06 PM
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#2
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QUOTE(Knnbuccb @ May 3 2023, 05:01 PM) the "penalty" is always forfeited interest different countries diff laws with pro and cons I guessthe one with sixty day interest penalty is in US, which means if you withdraw before sixty day (like even after one week) you still end up paying 60 days interest (ie you lose money). THe benefit is...it is more fair to those who put in one year FD and withdraw after 11 months, at least you still get 9 months interest. So it really benefits those in rapid rising interest rate enviroment like in the US now. This post has been edited by diffyhelman2: May 3 2023, 05:06 PM |
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