Fixed Deposit and how to use it

What is fixed deposit and how it works Fixed deposit means , some certain of money that keep for long time compare to savings  account. always Fixed deposits rates are higher than the other rate In Some countries Fixed deposits called as Certificate of deposits. Some banks offer very special rate for Fixed deposits. But before investing on the Fixed deposit. please go through Financial Statements. You can view the financial statements via corporate website. You can do analysis on that. The bank or financial institution  has viable assets and liabilities ratio.  Compare to Fixed  deposit , Savings have higher ratio of flexibility. If you need to take money or deposit money whenever you want , the best choice is savings. from fixed deposit you unable to withdraw money at anytime. its a fixed one. if you withdraw the money you will get penalty.

What is the difference between Fixed deposit and Savings account First we have understand the What is savings account. Savings account is regular account in normal banks. Now savings accounts can be open via internet banking  too. Online savings accounts are now popular just because you dont need to visit the branch. all you can do is log to internet banking and do Savings account get flat rate and its low rate compare other bank products. The  benefits of the Savings Account Flexible Withdrawals Add additional Funds immediately When you come Fixed deposits , Its not  just easy You can not withdraw money all the time. you have to wait until the fd mature. its insane. its the commitment.  For the Commitment you can get high reward.  You can not add additional funds. Its a another disadvantage. If you willing to add addional funds , you should close  the Cd  and then put the additional Fund  and open a New FD. Oth...