Difference between fixed and saving deposit
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Saving account is a bank account which is opened by persons in order to save a part of their income. Fixed Deposit (FD) account is that type of account where a fixed sum of money is deposited for a fixed period.
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.
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