Yes, you can withdraw your FD before maturity, but please keep these important points in mind: 

  1. The FD can only be withdrawn fully (all FDs will get withdrawn) and not partially.
    For example -You have 3 FDs: FD1 for Rs. 10,000; FD2 for Rs. 15,000 and FD3 for Rs. 25,000. Your total FDs and credit limit are Rs. 50,000. If you wish to withdraw, then the entire Rs. 50,000 will get withdrawn.

  1. The FD withdrawal balance will come to your Niyo (SBM) savings account after deducting any credit card outstanding (if you have any credit card bill due, then the amount will get deducted from FD, and you will get the balance). The FD withdrawal process may take upto 5 - 7 working days. 

  2. Early withdrawal leads to a penalty (loss of 1% interest on your FD) by the bank. 
    For example, if you have a FD of Rs. 10,000 opened for 6 months, at an interest rate of 6%. If you withdraw it in 3 months, the bank will first check the rate you would have received if you took the FD for 3 months (example - 5%). The penalty here will mean you will get a 4% interest rate. (5% - 1% penalty).

Note: You can create a new FD and reorder the credit card at a charge of Rs. 249+GST once the refund for your previous FD has been completed. You can withdraw and create new FDs 5 times.