Fixed deposit rates are an assured interest rate for the whole
period of an investment. They allow the depositor to receive high interest
rates. On behalf of the Reinvestment scheme, the interest is compounded to the
primary amount on a quarterly basis. Fixed
deposit rates make you know the exact worth of investment of a depositor
and consequently help in planning the financial matters further.
Fixed deposit rates facilitate depositors to know the exact value
of the fixed deposit of the customer. For the conventional system, the interest
on the fixed deposit account is credited to the depositor’s savings account
specified by him or her on a quarterly or on a monthly basis.
Summary: Comparing the interest rate of banks for the last few
years signify that they have been quite unstable. In 2010, fixed
deposit rates started going up again as banks were short of money.
No comments:
Post a Comment