Question

When should one use fixed deposits for savings?

Answer 1

Answer:

Fixed deposits should be used for savings for the following reasons,

- Use it because the market fluctuations won't affect your savings then.

-use it when you to have a low maintenance for your account.

- Use this account when you do not want any risks.

-Use this when you want appreciable interest income on the returns.

-Use it if you get a better rate.