Question

What are the benefits of deposition of money in bank accounts?

Answer 1

Answer:

Fixed deposit is a financial instrument that pays a fixed rate of interest until a given maturity date. 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.

Explanation:

Answer 2

While saving money is indisputably a good decision, there are different routes and methods of getting there. Many people choose to save their money in a bank, rather than investing it in the stock market. If you are having this debate, there are quite a few things to consider. Here are a handful of the advantages and disadvantages of saving your money within a banking system.