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Some deposit accounts allow for the customer to withdraw their money in full from the account earlier than the maturity date but the result of this is heavy penalization. This is known as pre-closure. On pre-closure the interest accrued to date is calculate from the (account start date + amount collections) with the pre-closure interest rate and the recurring deposit collected amount.
Case I: Is Compounding Interest if selected
Recurring Deposit Amount + Interest Accrued for the service Recurring savings availed duration with pre-closure interest rate gets computed and the amount is available to withdraw.
Case II: Simple Interest without "Is Interest Withdrawal" option
Recurring Deposit Amount + Interest Accrued for the service Recurring savings availed duration with pre-closure interst rate gets computed and the amount is available to withdraw.