Question

define fixed deposit account

Answer 1

deposits are the deposits that has been provided to the bank by the person who is having the bank account in the bank .

Answer 2

A fixed deposit (FD) 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. The interest rate varies between 4 and 7.25 percent.

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