write different between saving account and fixed account
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In savings account there are no limits on the amount of money which can be deposited and the amount which can be maintained in the account. Which means the account holder can deposit as much as they want. There is no restriction on it. Whereas in FD the money deposited will be under the terms and condition of the Bank.
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Fixed Deposit Account is a kind of investment, where the money is deposited for a particular period of time (tenor) and the bank/financial institution pays interest on the money deposited.
But unlike a savings account, the money cannot be withdrawn before the fixed tenure, or rather it should not.
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