Fixed deposit (Term Deposit)
A fixed deposit gives you a higher interest rate with low risk. It gives you a higher interest rate to compare to a saving account. The rate of interest and maturity period can be different in every bank. People fall in 30% tax slab brackets will get benefits in investing in debt or liquid funds.
If you want to invest for the long term, there are many other options to invest in like- Mutual Funds (systematic investment plan), etc. Investing in these types of funds is a little bit risky but gives you higher returns in the long term. A fixed deposit may not have that capacity to beat the inflation and premature withdrawal can lower the interest. It is less suitable for wealth creation. Mutual funds are good for people who have a high-risk craving and want to create wealth.
Here is an FD (fixed deposit) Calculator makes your calculations much easier and simple. It will help you understand in a better way.
Hope this calculator will give all answer to your questions and helps you to think in a better way. Which mode of investment helps to meet your future needs and requirements? How much money you should invest monthly and where to invest to meet your goal in the future.
For more queries, questions and consultation feel free to call-
HEMANT K MIDHA (FINANCIAL CONSULTANT)
MY PLANNER
MOBILE NUMBER- 09988840022