Fixed Deposit aka term deposit is an instrument by which one can deposit his/her savings for a prescribed period of time with a bank. When the period of deposit elapses, the depositor is entitled to the interest on the deposited amount. In some cases, the rate of interest on fixed deposits can be as high as 9.5%!
How to do it?
All you got to do is deposit your savings in a bank account of your preference and watch your money grow over time. Do remember to check with multiple sources regarding the various options available. There are a wide range of fixed deposit products available to suit
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