How to Withdraw Money from Cowrywise Before Maturity Date

Cowrywise offers various savings plans with different maturity dates, interest rates, and withdrawal options. But what if you need to withdraw money from your Cowrywise plan before the maturity date? Is it possible? And if so, how can you do it?

In this blog post, I will answer these questions and more. 

I will show you how to check your Cowrywise maturity date, how to withdraw money from Cowrywise before maturity date, and how to change your Cowrywise maturity date.

Let’s get started! 

How to Check Cowrywise Maturity Date

Before you can withdraw money from your Cowrywise plan, you need to know when your plan matures.

 The maturity date is the date when your plan reaches its full term and you can withdraw your money without any penalty or fee. 

To check your Cowrywise maturity date, you need to follow these steps:

• Log in to your Cowrywise account using your email and password.
• On the dashboard, you will see a list of your active plans. Click on the plan that you want to check.
• On the plan details page, you will see the plan name, amount, interest rate, and maturity date. The maturity date is the date when you can withdraw your money without any penalty or fee.

How to Withdraw Money from Cowrywise Before Maturity Date

Here we are, I will discuss how to withdraw money from Cowrywise before maturity date in details 

If you need to withdraw money from your Cowrywise plan before the maturity date, you have two options: partial withdrawal and full withdrawal. 

Partial withdrawal allows you to withdraw a portion of your money and leave the rest in the plan until the maturity date. 

Full withdrawal allows you to withdraw all your money and close the plan before the maturity date

. However, both options come with some consequences. Let’s look at them in detail.

Partial Withdrawal

Partial withdrawal allows you to withdraw a portion of your money and leave the rest in the plan until the maturity date. 

This option is available for all Cowrywise plans except for the periodic plans, which require you to save a fixed amount at regular intervals. 

To do a partial withdrawal, 

• Log in to your Cowrywise account using your email and password.
• On the dashboard, you will see a list of your active plans. Click on the plan that you want to withdraw from.
• On the plan details page, you will see a button that says “Withdraw”. Click on it.
• On the withdrawal page, you will see the available balance, the minimum withdrawal amount, and the withdrawal fee. The withdrawal fee is a percentage of the amount that you want to withdraw, and it varies depending on the plan type and the time left until the maturity date. The fee is charged to discourage early withdrawals and to cover the cost of breaking the investment contract. The fee ranges from 0.5% to 5% of the withdrawal amount.
• Enter the amount that you want to withdraw and click on “Proceed”.
• Confirm your withdrawal request and enter your bank account details. You will receive a confirmation message and an email with the withdrawal details.
• Your withdrawal request will be processed within 24 hours and the money will be transferred to your bank account.

Full Withdrawal

Full withdrawal allows you to withdraw all your money and close the plan before the maturity date. 

To do a full withdrawal, 

• Log in to your Cowrywise account using your email and password.
• On the dashboard, you will see a list of your active plans. Click on the plan that you want to withdraw from.
• On the plan details page, you will see a button that says “Close Plan”. Click on it.
• On the close plan page, you will see the available balance, the withdrawal fee, and the net amount. The withdrawal fee is a percentage of the available balance, and it varies depending on the plan type and the time left to the maturity date. The fee is charged to discourage early withdrawals and to cover the cost of breaking the investment contract. The fee ranges from 1% to 10% of the available balance.
• Click on “Proceed” and confirm your close plan request. You will receive a confirmation message and an email with the close plan details.
• Your close plan request will be processed within 24 hours and the money will be transferred to your bank account.

How to Change Cowrywise Maturity Date

Having discussed how to withdraw money from Cowrywise before maturity date, you may want to learn another way to withdraw your money without incurring the withdrawal penalty. 

If you don’t want to withdraw money from your Cowrywise plan before the maturity date, but you want to change the maturity date, you have another option: rollover. 

Rollover allows you to extend or reduce the maturity date of your plan without any penalty or fee. 

To do a rollover,:

• Log in to your Cowrywise account using your email and password.
• On the dashboard, you will see a list of your active plans. Click on the plan that you want to rollover.
• On the plan details page, you will see a button that says “Rollover”. Click on it.
• On the rollover page, you will see the current maturity date, the new maturity date, and the new interest rate. The new maturity date can be longer or shorter than the current maturity date, depending on your preference. The new interest rate will be based on the new maturity date and the current market conditions. The interest rate may increase or decrease depending on the new maturity date.
• Enter the new maturity date and click on “Proceed”.
• Confirm your rollover request and enter your bank account details. You will receive a confirmation message and an email with the rollover details.
• Your rollover request will be processed within 24 hours and the new maturity date and interest rate will be updated on your plan.

Wrap Up

Cowrywise is a great platform to save and invest your money and earn interest. 

However, sometimes you may need to access your money before the maturity date of your plan. 

In this blog post, I have shown you how to check your Cowrywise maturity date, how to withdraw money from Cowrywise before maturity date, and how to change your Cowrywise maturity date.

I hope you have found this blog post helpful and informative. If you have any questions or comments, please feel free to leave them below. 

If you liked this blog post, please share it with your friends and family who may benefit from it. 

Thank you for reading