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Fixed Deposit (FD) is a financial instrument offered by banks and financial institutions that allows individuals to deposit a specific amount of money for a predetermined period of time at a fixed interest rate. It is considered a safe and secure investment option.
Fixed Deposits provide stability, guaranteed returns, and liquidity within the specified tenure. It is important to carefully consider the terms and conditions, interest rates, and any associated charges or penalties before investing in a Fixed Deposit.
A Recurring Deposit (RD) scheme is a financial product offered by banks and financial institutions that allows individuals to regularly save and invest a fixed amount of money over a predetermined period of time. It encourages disciplined savings and provides a fixed return on investment.
Recurring Deposits provide a structured approach to savings and offer a fixed return on investment. It is important to understand the terms and conditions, interest rates, and any associated charges or penalties before opting for a Recurring Deposit scheme.