Watch this video to learn more about fixed deposits.
Looking to earn more from your savings? Then a fixed deposit could be right for you.
Fixed deposits allow you to place your money in a bank for a fixed period and earn a fixed amount in return. It gives a higher return than a basic savings account but is safer than other investments such as stocks because of the fixed rate of return.
Because of this, fixed deposits are a good way for you to reach your savings goals in the short to medium-term, like if you are building your emergency fund or need to save up for the down payment for a house.