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What is the difference between Fixed deposit and Savings account

Difference between Savings and Fixed accounts

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.

Other wise  In  USA banks offer flexible  Fixed deposits  but the problem is the rate is low when compare to the Fixed CDs.







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