FD

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fixed deposit

A fixed deposit 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. It may or may not require the creation of a separate account.

How does a fixed deposit work?

A 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.

Which bank is best for fixed deposit in 2019?

As the bank FD rates in 2019, top bank for 1 year FD is IndusInd Bank as it offers highest interest rate of 7.75% on regular term deposits. If you want to open a 3 year FD, IDFC Bank is the best bank as it offers a higher rate of 8.25% on 3 year Fixed Deposits compared to other banks.

Is Post Office FD safe?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. If you are looking for a safe investment, bank FDs are suitable for you.