For individuals who don't want to take any risks, fixed deposits are a great investment option.
A fixed deposit is a financial product offered by banks or non-bank financial companies (NBFCs) that offers investors a higher rate of interest than a typical savings account, up until the specified maturity date.
An investing tool that banks and non-banking financial institutions (NBFC) offer to their clients to help them save money is a fixed deposit, or FD. With an FD account, you can invest a sizable sum of money for a set amount of time at a predefined rate of interest.
Fixed deposits are one of the most popular ways for people to save money and invest because they come with guaranteed returns and no risk. Investors receive a larger interest rate from fixed deposits than they would from a typical savings account. A fixed deposit's maturity value is determined by the date the depositor chooses for it to mature. Even if the returns on fixed deposits are not as great as those on mutual funds and stocks, people choose them because they are low risk and guarantee returns.
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