what is fixed deposit and why should you consider-It?

A fixed deposit (FD) is one of the well-known savings schemes available with banks and financial institutions. Individuals use this savings scheme to keep their capital with a financial institution for a predefined period. The fixed deposit scheme is popular among individuals because it gives a fixed interest rate on the deposited amount.  However, it’s important for individuals to know that they cannot access the deposited capital until the FD tenure is completed. This article will educate you about what a fixed deposit is and why you should consider it. What is Fixed Deposit? To learn what is fixed deposit , first we need to understand its purpose. A fixed deposit is a kind of financial instrument. When you decide to invest your savings in a fixed deposit, you basically agree to save an amount over a predetermined period. This duration can vary from 7 days to 10 years. During this period the invested amount of capital will earn a predetermined rate of interest. Fixed deposits oft...