Fixed Deposit in a Bank

[raaman]

Even though there are a lot of investment schemes available today, if there is one risk-free primary investment, it is the fixed deposit in a bank. It is because it is a safe investment.

Fixed deposit is a safe investment since it has no stake in the investment. In the current year, the Reserve Bank of India (RBI) has cut interest rates several times to revive the economy.

It was due to the corona spread, but has not changed interest rates in the last two terms. As a result, banks have not changed the base rate for loans and the interest rate for bank deposits.

 

[anil02]

I am agree with you Fixed deposit is the safest mode of investment. But in these day interest rate is not much attractive one. But if some one want to earn more than they must be compromised with safety. More risk more earning and less risk, less earning. I too prefer the Fixed deposit. NSE is paying more than FD but liquidity is not easy before maturity

 

[IamDozzy]

Fixed deposit is one of the safest if not the safest form of investment. But these days, the interest rate are ridiculously low, one might attribute inflation at the main cause of low interest rate associated with Fixed deposit nowadays as against what obtains in the past. Banks use money deposited as Fixed deposit for a period of time to trade and give loans to people. You can keep your money in the bank for an amount of time. The lowest fixed deposit time should be 6 months and you can keep your money for a year, 2 years, 5 years or more. The higher the year, the higher the money added to your fixed deposit.

 

[anil02]

You are right, but in India we have condition of minimum period, we can invest in FD for one month but it is right bank will pay less interest on it to us. Interest rates on FD or any bank deposit depends of government policy. Now at present government wants to peoples spend more amount than saving to increase demands. Here in India senior citizens are getting more interest on FD

 

[Alexandoy]

I used to have money deposited as a fixed deposit. It earns higher interest than the regular savings deposit but not really much difference. In terms of savings the fixed deposit is a good one to give you the peace of mind with the thought that you have money saved in the bank. By the way, the rate of interest in fixed deposit is adjusted when there is an inflation.

 

[anil02]

Every country have differ rate and plan, so here in India interest on FD is not much, it is also depends of time of FD. If we deposit for 5 year than we get some better interest. Here rate is high for senior citizens. Money with bank is safe that others. Here we have some non banking companies they are paying higher interest but money is not safe, I too lost money with them.

 

[btaliat]

In my own country or let me say the bank i am banking with, fixed deposit is not an option. The interest rate is always low and not encouraging. It is better to invest that money than keeping it with a bank in a fixed deposit. Or what's the essence of keeping money with banks that will use it to do business and even gain more but will give you a little percentage interest. That's why I don't support fixed deposit.

 

[anil02]

Every country have their our system, In India most of banks are paying interest, In come countries peoples have to pay to keep money in banks. Our banks are also on this way. Here banks are charging for each and every service. Even some banks are charging for deposit money in bank from customers. Here we have some more option for people who want to deposit money for long period, interest on these plans are better than banks and money is also safe