Fixed Deposit Interest Rate, Key Features of Fixed Deposits

Fixed Deposit Interest Rate
A Fixed Deposit (FD) serves as a financial instrument offered by banks and various financial institutions, enabling individuals to invest a specified amount for a predetermined duration at a fixed interest rate. Fixed Deposits are known for their safety, stability, and guaranteed returns.

Key Features of Fixed Deposits:
1. Interest Rates:
Fixed Deposits provide a consistent interest rate for a specified period. The rates vary between banks and are influenced by the tenure of the deposit.

2. Tenure:
Fixed Deposits come with a predetermined duration, spanning from a short few days to an extended period of several years. Depositors select the tenure aligned with their financial objectives.

3. Minimum and Maximum Deposit Amount:
The minimum deposit amount required to open an FD varies across banks. There is generally no upper limit, allowing investors to deposit large sums.