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Why should have Fixed deposit?


A fixed deposit is one of the instruments that have been used for very long. They are useful because they ensure capital protection. A fixed deposit is an instrument where a person puts a lump sum amount for a particular period and earns a fixed rate of interest. A term deposit is also used for a fixed deposit because the money is parked by the individual for a given tenure. Fixed deposits are safe because they give stable returns. Fixed deposits come with fixed rates of interest. Based on key lending rates, fixed deposits are revised from time to time. Bank of Baroda offers the highest deposit rates in India, given its pedigree and security. Financial instruments are often dependent on market movements, and because of this, they can sometimes be volatile. Fixed deposits, on the other hand, provide secure returns. The return on investment is based upon the tenure and rate of interest on fixed deposit. Short term fixed deposit gives the individual more liquidity. Bank of Baroda provides its customers with flexible tenures. These are both long term as well as a short term for the benefit of depositors. Loans against the fixed deposits are also provided by some of the banks.


READ MORE IN DETAIL: Reasons Why You Need To Have A Fixed Deposit
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