Beware of little expenses. A small leak will sink a great ship
Fixed Deposit is an account opened with a bank wherein, the bank pays a guaranteed interest rate on the sums deposited in a Fixed Deposit account, for a stipulated period or tenure.Creating a Fixed Deposit allows you to higher earn returns on funds lying idle in your Savings Account.It is an ideal way to grow your savings with safety.
Benefits of Fixed Deposits
-
Flexible Tenure - The tenure for fixed deposit is flexible and depends on the deposit holder.It is also possible to decide whether to redeem the fixed deposit or to extend it for the same period of time.
-
Total Teturns - Investing in fixed income securities is the stability of returns that they offer
-
Compound Interest Is Available - Customers can reinvest the matured FD amount for a duration of their choice. This means they will earn compound interest on both the principal amount and the interest earned.
