Withdraw from Fixed Note

This endpoint is used to fulfill liquidation requests from a customer’s fixed note. It can be used for withdrawals at maturity and before maturity.

POST/fixed-notes/:id/withdraw

amount
decimal
required
Amount to be withdrawn

Penalty Fee for Early Withdrawals

When a customer withdraws funds from their savings before maturity, a penalty fee is applied. The penalty fee is calculated based on a fixed note break fee rate of 0.25 (or 25%) and is deducted from the total interest accrued on the principal amount.

How It Works:

  • Fixed Note Break Fee Rate: 0.25 (25%)
  • Total Interest Accrued: The interest earned on the principal amount up to the point of withdrawal.
  • Principal: The original amount of money that was invested.
  • Withdrawal Amount: The amount the customer wishes to withdraw before maturity.

The penalty fee is automatically calculated and deducted when the withdrawal is processed via the transfer API call.