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A Fixed deposit is a type of investment, provided by Banks and NBFCs. It provides a higher rate of interest than a regular savings account. The interest rates depend on the financial organizations. Here are the top reasons why FD is better than saving account-
- Better Interest Rates
- Better Prospects for Senior Citizens
- Flexible Payouts
- Customizable
- Pre-emptive Approach
- Better Options for NRIs
It is a secure investment, you can easily calculate the FD interest rates, periodic payouts, or the cumulative sum, using an FD calculator. Based on the above-mentioned factors, you can say that FD is the better option to invest in.
