A bank fixed deposit is a
category of deposit that a consumer makes for a prearranged time period in a
bank at a known bank FD interest rates.
There is probably a fine involved if you take out your money earlier than the
date of expiry of the fixed deposit. The term fixed deposit that is used in
India is analogous to a certificate of deposit in US.
Most people are inclined to be
interested in investing their money into fixed deposits and get higher rates of
yield in the form of higher bank FD
interest rates. They have less of an enticement to set aside money and
deposit it into fixed deposits when interest rates are low down. The higher the
bank FD interest rates a bank offer
on its fixed deposits, the more expected it is to draw a higher rank of
deposits.
Summary: If you have funds in a fixed deposit account, you can take
it out before the termination of the deposit period, but you will probably pay
a fine to accomplish so.
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