Fixed deposits or FDs are a preferred investment option for most of the people in India. But, what is a fixed deposit? Here is everything you must know about it.
A bank fixed deposit is also known as a term deposit, which earns better interest as compared to the interest that the account balance earns in a savings bank account. This is a type of financial instrument in which, a certain sum of money is placed with the bank for a specified time period at a fixed interest rate.
This article was originally published on November 02, 2021.
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