When should one opt fixed deposits for savings?
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Answer:
FD or fixed deposit is one of the best investment options to earn returns if you have a lump sum money. ... But if you are an investor who is ready to take some risk but want higher returns than the traditional ways of investing, mutual funds are a very good option.
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Explanation:
Fixed deposits generate higher returns as compared to a savings account. Unlike the 4–5% annual interest that you earn on a savings account, fixed deposits fetch you more than 7% annually. Also, NBFCs usually offer a higher rate of interest as compared to bank FDs.
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