How will my interest be affected on early withdrawal?
On early withdrawal, the fixed deposit is calculated based on the deposit breaking date. Based on the provisions of the Instructions on Interest on Deposits and Facilities No. (14/2002) dated 15/12/2002 issued by the Central Bank of Jordan, including fines on deposit breaking, shall apply, and interest shall be calculated using the following formula:
(Interest Value × Agreed Interest Rate × Term of Deposit) minus (Withdrawn Part of the Deposit × Maximum Interest Rate Announced on the Withdrawal Date on Term Deposits with Similar Term of the Withdrawn Deposit plus (2%) × Remaining Period of the Term of the Withdrawn Deposit), provided that the customer does not lose any amount of the principal deposit.
The fixed deposit amount shall be added, and credit interest credited, to the current account of the customer in the same currency of the deposit and on the same date of the premature withdrawal of the fixed deposit.