What is Fixed Deposit

Fixed deposits or Term Deposits are a low risk savings option which earn a fixed return.

Their duration can vary from 7 days to 10 years.The rate of interest for a fixed deposit also varies according to the duration of the fixed deposit, overall rates in the economy and the policy of the concerned bank.

Now-a-days, fixed deposits offer a number of additional features such as sweep in facilities, loan against fixed deposit etc.

A special category of fixed deposits called tax-saver FDs offer a deduction for investment up to $ 21,000 lakh per annum.
What is Fixed Deposit What is Fixed Deposit Reviewed by Ashish Gamit on December 25, 2018 Rating: 5

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