What is called all type of deposit repayable after a specified term
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The term 'fixed deposit' means that the deposit is fixed and is repayable only after a specific period is over Under a fixed deposit account, money is deposited for a fixed period say six months, one year, five years or even ten years.
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Type of deposit repayable after a specified term is called fixed deposit.
Fixed deposit is a type of deposit which is deposited for a specific period of time and is repayable after a specific time.
Fixed Deposit is also known as FD.
It is a type of an investment instrument offered by bank , it offers guaranteed return on the investment .
In Fixed Deposit system money is locked with them until and unless maturity period comes and then only that money is repayed and fixed amount of interest is also given.
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