Fixed Deposits
Fixed Deposits are one of the most popular ways to save money. They are a safe investment, offer good returns, and are easy to open.
So, what exactly is a Fixed Deposit?
In a Fixed Deposit, you put a lump sum in your bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, you receive the amount you have invested plus compound interest.
FDs are also called term deposits.
Interest rates
Interest rates on FDs are fixed when you open the deposit and the rate depends on the term that you wish to hold it for.