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FDs: Banks charge penalty for early withdrawal

PUBLISHED ON: January 19, 2011 | Duration: 2 min, 12 sec

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As interest rates inch upwards, returns on fixed deposits (FD) are also getting better, but it may not be a good idea to hop from one FD to another, hoping for a better rate of interest. If you decide to withdraw the earlier fixed deposit to make your money work harder, it will come at a cost to you.
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