When should one opt for fixed deposits for savings?
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Answer:
When the amount is deposited for a certain period, such deposit account called fixed deposit account.
If you believe that in the near future you will not need the amount then you should open fixed deposit account, as the rate of interest on fixed deposit is higher than saving. In case of unforseen circumstances you can get premature payment of fixed deposit.
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Answer:
Reasons Why FD Is Better For You Than Savings Account
Highlights.
Boost your savings with proper fund management.
Senior Citizens get higher interest on fixed deposit.
Get Loan against Fixed Deposit for emergencies.
Fixed Deposit helps you inculcate the habit of savings
Explanation:
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