Fixed Deposit: A Secure Investment Option for Steady Returns
A fixed deposit (FD) is one of the most popular and secure investment options for individuals seeking stable and guaranteed returns. Offered by banks and financial institutions, an FD allows you to deposit a lump sum amount for a fixed tenure at a predetermined interest rate. In return, you earn interest that is higher than that of a regular savings account. One of the key benefits of a fixed deposit is its safety. Since FDs are not influenced by market fluctuations, they are an ideal choice for risk-averse investors. The interest rates on fixed deposits are locked in at the time of investment, ensuring predictable returns. Additionally, flexible tenure options, ranging from a few days to several years, make FDs suitable for short-term and long-term financial goals. Fixed deposits also offer features like automatic renewal and loan facilities, allowing you to use your FD as collateral for borrowing. Furthermore, senior citizens often benefit from higher interest rates, making FD...