Accountancy, asked by Anonymous, 1 month ago

What is Fixed deposit ???

Answers

Answered by RomaSoni

1

Explanation:

In Fixed Deposit, the sum of money is blocked for the period of the deposit. Banks allow depositors the flexibility to invest their funds from periods as low as 7 days to 10 years. The interest rate on the deposit depends on the period for which the funds are placed with the bank.

Answered by Anonymous

2

A fixed deposit 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.

❤MissDevil❤

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