A type of savings account characterized by depositing a lump sum of money for a predetermined period at a fixed interest rate typically higher than standard savings accounts is commonly referred to as a "Certificate of Deposit" (CD).
Benefits of an FD Account:
- Loan Facility: We offer the option to avail of loans against FDs, providing liquidity without breaking the deposit prematurely. The loan amount can be a certain percentage of the FD's value.
- Fixed Returns: The interest rate on FDs remains constant for the duration of the deposit, providing a predictable and stable return on investment.
- Safety: FDs are considered relatively safe investments because they are typically insured up to a certain amount by government schemes i.e the Federal Deposit Insurance Corporation (FDIC) in the United States.
- Flexible Tenure Options: We offer various tenure options ranging from a few days to several years, allowing investors to choose a term that aligns with their financial goals.
