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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?

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User Pheeleeppoo
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2 Answers

4 votes

Answer: Surrender charge

Explanation:

answered
User Vidhyanand
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7.9k points
1 vote
This fee is typically called an early withdrawal fee or early withdrawal penalty.
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User Adurity
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