Question

what are the benifits of having a fixed deposit?

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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. The returns are generally over and above the returns offered by a savings bank account.

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Answer 2

Answer:

1. accounted for as Time Liabilities
2. Placed for a mutually agreed specified duration of time
3. withdraw able upon maturity
4. Profit is variable & linked with the duration
5. A receipt is issued to the depositor
6. No cheques can be drawn
7. Not a negotiable instrument
8. High rate of interest