FIXED DEPOSIT

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FIXED DEPOSIT

Fixed deposit is investment instruments offered by banks and non-banking financial companies, where you can deposit money for a higher rate of interest than savings accounts. You can deposit a lump sum of money in fixed deposit for a specific period, which varies for every financier.

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.

Features of Fixed Deposit

  • Fixed deposit enable investors to earn higher interest on their surplus funds

  • You can deposit money in a fixed deposit account only once, but to deposit more money, you need to create another account

  • Though liquidity in fixed deposit is lesser, you can look for higher rates of interests, which are higher in case of company fixed deposit

  • Fixed deposit can be easily renewed

  • Tax is deducted at source, from interest on Fixed Deposit as applicable, as per the Income Tax Act, 1961.

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Benefits of Fixed Deposit

If you are looking for a There are several advantages of fixed deposit investments, some of which have been given below:

  • They are the safest investment instruments, and offer greater stability

  • Returns on fixed deposit are assured, and there is no risk of loss of principal

  • You can opt for periodic interest payouts, to help you manage your monthly expenses

  • There is no effect of market fluctuations on your fixed deposit, which ensures greater safety of your investment capital

  • You can benefit from higher interest rates offered by company fixed deposit

  • Some financiers also offer greater returns for senior citizens