Fixed Deposits: A smart choice for secure, flexible, and high-yielding investments
With rising uncertainties in the country’s economic climate, finding a reliable and secure way to grow your wealth is prudent. And one of the most popular investment avenues offering guaranteed returns is fixed deposits (FDs). If you are a risk-averse investor seeking stability in your investments, opting for an FD is the best bet. Fixed Deposits: A Brief Overview A fixed deposit is a financial product wherein you deposit a lump sum amount for a fixed tenor at a fixed interest rate. Regardless of the market fluctuations, these interest rates remain unchanged, which is one of the most significant benefits of an FD. The interest income you earn across the FD tenor is determined by three parameters: Your invested amount Applicable interest rate The tenor of the FD This low-risk investment option is undoubtedly one of the safest ways to maximise earnings. You can book an FD for a convenient timeline ranging from 7 days to 10 years. The FD interest rates vary from one issuer to the other