Understanding Power and Influence: The magnet for success
Before you embark on the professional expedition, understanding the use and abuse of power and influence is a requisite. Possessing...
What is a fixed deposit?
It is one of the typical avenues used by most individuals for savings in India. In fixed deposits, people can save money in the bank for a definite period and can earn returns on it at the end of the term.
For example, say you deposited INR 50,000 at an interest rate of 7.6% for a fixed term of 5 years. You will be paid an additional INR 4180 every year until the end of the term. The term, in this example, is five years. So, at the end of the five years, you can draw a total amount (invested amount + income earned on it) of INR 79,328.
The interest rates are modified by banks from time to time, based on various factors such as monetary policy, inflation, reforms in the union budget, etc. This investment is risk-free and offers guaranteed returns on the deposited amount. Upgrade to Premium Plan to unlock this content!This content is locked
A fixed deposit is a great investment option for people who are not interested in taking risks. Now that you know about the fixed deposit and its significance, the only points that you have to remember while investing in a fixed deposit are – read the terms and conditions thoroughly and choose the scheme wisely after analysing the pros and cons.
Citations :
Skillioma (October 27, 2021) What is a fixed deposit?. Retrieved from https://www.skillioma.com/what-is-a-fixed-deposit/.
"What is a fixed deposit?." Skillioma - October 27, 2021, https://www.skillioma.com/what-is-a-fixed-deposit/
"What is a fixed deposit?." Skillioma - Accessed October 27, 2021. https://www.skillioma.com/what-is-a-fixed-deposit/
Skillioma May 9, 2020 What is a fixed deposit?., viewed October 27, 2021,<https://www.skillioma.com/what-is-a-fixed-deposit/>
Skillioma - What is a fixed deposit?. [Internet]. [Accessed October 27, 2021]. Available from: https://www.skillioma.com/what-is-a-fixed-deposit/
"What is a fixed deposit?." Skillioma [Online]. Available: https://www.skillioma.com/what-is-a-fixed-deposit/. [Accessed: October 27, 2021]
Power Words :
- Inflation
- Reforms
- Returns
- Deposit
- Gross
- Tenure
- Monetary
- Invest
This content is locked
Upgrade to Premium Plan to unlock this content!
Hashtags :
- #GPSforLifeAndCareer
- #ConsciousIntelligence
- #Kidswiki
- #MindInTheMaking
- #RelevanceInEducation
- #MeaningfulLearning
- #RealWorldSkills
- #SafeContent
- #360DegreeDevelopment
- #Skillioma
- #BeyondCurriculum
- #SkillsBeyondSchool
Related Posts
Top Rules for Successful Trading
It is quite an astonishing fact to realize and process that we have been an integral component of the consumer...
Types Of Organizations: Which One Do You Belong To?
Businesses today have become increasingly complex and dynamic. A business’s strength lies in the robustness of its foundational organizational design....
Adaptive leadership
The adaptive leadership model was introduced by Dr Ron Heifetz and Marty Linsky after more than 30 years of research...
Understanding Quarters and Quarterly reports
Generally, a quarter refers to one-fourth of a whole. A year, which has 12 months, is divided into four quarters....
What do you mean by risk?
Risk is a term that we often use in our daily life. There is also a very popular Hindi phrase...
