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What is the name of the fee charged by a financial institution for withdrawing money from an account before the maturity date?

What is the name of the fee charged by a financial institution for withdrawing money from an account before the maturity date?
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4 votes
What is the name of the fee charged by a financial institution for withdrawing money from an account before the maturity date?

User Pheeleeppoo
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2 Answers

4 votes

Answer: Surrender charge

Explanation:

User Vidhyanand
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1 vote
This fee is typically called an early withdrawal fee or early withdrawal penalty.
User Adurity
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