Question

importance of term deposit account​

Answer 1

Answer:

FDs provide investors with a higher rate of interest than a regular savings account and also have many other advantages which make them a preferable option for investment. Investment in fixed deposits gives you an assured return.

Answer 2

term deposit is a type of deposit account held at a financial institution where money is locked up for some set period of time.

Term deposits are usually short-term deposits with maturities ranging from one month to a few years.

Typically, term deposits offer higher interest rates than traditional liquid savings accounts whereby customers can withdraw their money at any time.