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Dissolving a fixed-term deposit early: is that possible?

Fixed-term deposits are invested for a fixed term; that is the core of this form of investment. Unlike overnight money, you generally cannot dispose of it at any time. Whether early dissolution is possible depends on the bank's contract terms.

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Your chances of getting your money back

With a fixed-term deposit, you agree on a fixed term and a fixed interest rate. During this time there is in principle no claim to early payout; the bank is only obliged to do so if the terms provide for it.
Some banks allow early dissolution in cases of hardship or against an interest deduction. Watch out for a corresponding clause as early as when signing up, if you want to stay flexible.

What you should do now

  1. 1

    1. Check the terms

    Look at whether the contract provides for early dissolution.

  2. 2

    2. Approach the bank

    Ask the bank whether a dissolution is possible in the individual case.

  3. 3

    3. Clarify the costs

    Have any interest deductions or charges stated in advance.

  4. 4

    4. Check alternatives

    Consider whether a loan against it or a bridging solution is cheaper.

How to spot the scam

  • You tie up urgently needed money long-term without an exit option.
  • An early dissolution leads to a considerable loss of interest.
  • The contract terms on availability are unclear.

Frequently asked questions

Can I dissolve a fixed-term deposit early?

Generally not without further ado. A fixed-term deposit is bound for a fixed term; a claim to early payout only exists if the contract terms provide for it. Some banks make it possible in the individual case, often against an interest deduction.

What disadvantages does an early dissolution have?

Often you lose part or all of the agreed interest, or a charge applies. This eliminates the advantage of the fixed interest. So check before signing up whether you can reliably do without the money over the term.

How do I stay more flexible?

Choose shorter terms, stagger investments over different maturities (fixed-deposit ladder), or use overnight money for money needed short-term. This way you combine availability and interest without tying yourself down for too long.

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General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.