Withdraw money from Fixed Rate Bond?

[godub]

Hi all just wondering if you can withdraw your money from a fixed rate bond? I have 12 months gone in a 2 year bond but i now need the money? Can i withdraw it? I know ill face penalties.

 

[Marietta]

what bank are you with? I have 2 year fix rate bond with halifax and i am nearly sure i can withdraw a certain amount should i need it. Check the terms and conditions of the a/c.

 

[godub]

Its with INBS.

 

[Lightning]

As a general rule, term deposits by definition, do not allow access to cash until maturity.

For INBS, they have an exception to the rule.

See

Can I access my money if I need it?
The Fixed Rate Bond is a fixed term product and no withdrawals should be made for the duration of the contract period. There is however, one withdrawal provision with this account whereby after year 1 you can withdraw up to 25% of your initial subscription without penalty, provided that you maintain the minimum €20,000.

 

[godub]

Thanks.. Ive faxed them off a letter asking to withdraw my funds. Have to wait to hear the outcome.

 

[paulenquirer]

what bank are you with? I have 2 year fix rate bond with halifax and i am nearly sure i can withdraw a certain amount should i need it. Check the terms and conditions of the a/c.

Hi, can you help me as I cant get any sense from halifax over the phone. I have the same fixed rate 2yrs bond that you refer to but I dont have their terms and conditions. Can you tell me if funds can be withdrawn WITH a penalty?? They keep saying I cant withdraw anyhting even WITH a penalty. Thanks if you can help

 

[mercman]

but I dont have their terms and conditions.

Just going slightly off topic, but to all those that might intend to make any kind of a Financial Investment in this country, please, please get a copy of The Terms & Conditions and carefully read before the cooling off period expires.