what is Fixed deposit and how it works


what is Fixed deposit and how it works 


 Dear all


 Today is a  very special day that this is  my very first post about fixed deposit

 Fixed deposit is not  like savings. Fixed deposit keeps  for  some time like 3 months  to 5 years even more. 
Compare to savings  accounts rate fixed deposit  rate is very high. thats obvious becuase we give a  commitment  thats why.
For personal finance  side ,Risk free investment is Fixed  deposit. In Modern countries like america  and uk , they are using certificate  of  deposit for this.

 you have commitment here. you have less flexibility  compare to the savings account. if you  take prior to the mature you will face penalty. 

Comments

Post a Comment

Popular posts from this blog

Fixed deposit in srilanka

Fixed Deposit is the popular investment in srilanka. Fixed deposit have lower risk compare to other. Central bank of srilanka reduced Fixed deposit rates in srilanka . This done because of the reduce the loan rates. If you willing to spend with monthly interest. now its not time . wait at least six months
Read more

what certificate of deposit

what certificate of deposit  Fixed deposit and Certificate of deposit play the same role. in us and uk they called fixed deposit as Certificate of deposit. Certificate of deposit is a commitment  of 3 months - 12 months period. Even jumbo certificate of deposits also have commit. Jumbo deposits problem is their is minimum of balance need to deposit. but in normal CD no need minimum balance. Certificate of deposit play a vital role in personal finance , just because thats the safest investment and risk free investment. Cd rates are depends time to time. Cd fully secured from insurance claim. i will discuss from another how Cd differs from Normal general Savings account
Read more