Personal Finance News
2 min read | Updated on March 22, 2024, 19:04 IST
SUMMARY
Fixed Deposit (FD) offers benefits like fixed returns, flexible tenure, loans against FD and capital preservation. The duration of FDs ranges from 7 days to 10 years.
Fixed deposits are considered low-risk investments with no risk of a capital loss.
Fixed deposits (FDs) are secure investments that offer predetermined interest on the amount invested for a specific time with a bank. They are considered low-risk investments with no risk of a capital loss.
An individual needs to open a FD and invest a specific amount of money. The money should not be withdrawn before maturity to earn an interest rate. The duration of FDs ranges from 7 days to 10 years.
They offer benefits and features like fixed returns, flexible tenure, loans against FD and capital preservation.
While fixed deposits are safe investments, one must research extensively and select a plan offering a reasonable interest rate with a moderate lock-in period.
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