What is a Bank Fixed Deposit?

 

What is a fixed deposit?

A fixed deposit is an account that allowsyou to deposit your money for a fixed period of time, earning you interest at a fixed rate. It gives you a higher rate of interest than a savings bank account

 

A fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning you interest at a fixed rate. It gives you a higher rate of interest than a savings bank account.

 

FDs are fixed-income debt securities issued by banks. Putting money into an FD is like giving a loan to the bank, in return for which the bank pays you interest. This interest may be payable at regular intervals during the term of the deposit or on withdrawal. The date of maturity of the FD is established when the contract is concluded.

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