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Fixed Deposit – Mindsure.in

Fixed Deposit

fd

fixed deposit, or ‘FD‘, is a type of savings/investment account that promises the investor a fixed rate of interest. In return, the investor agrees not to withdraw or access their funds for a fixed period of time. In a fixed deposit investment, interest is only paid at the very end of the investment period.

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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.

Interest rate usually varies from 4.50% p.a. to 8% p.a.  depending  on tenure. Some lenders also offers up to 0.5% additional interest rate for senior citizens.