Bank Fixed Deposits are also called Term Deposits in India. Popularly, it is just called Bank FD or simply FD. In a Fixed Deposit Account, a certain sum of money is deposited in the bank for a fixed time period with a fixed rate of interest and hence it is called a fixed deposit. The rate of interest for Bank Fixed Deposits depends on the maturity period or the term period. It is higher in case of longer maturity period…
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