Want to know about fixed deposit ?

[Shyla Bernetta]

hey guys

I just want to know what is fixed deposit I have nil knowledge about the fixed deposit, coz I have save money for my kid and which is the best place,like banks or postoffice please suggest me with right knowledge.

 

[enzo520]

fixed deposit is not a really good idea for nowadays.
mayb u can try for islamic bond fund. Stable & reliable.

Please refer to ur trusted bank officer !

 

[SAKIS]

thank you so much

 

[Xanthia Alysha]

fix deposit is that you have to block your money with banks for several time like 6 months or 1 year or more they will give you some interest on your deposited money currently banks will give you 10 to 10.50% interest rates which you can get at the end of the maturity or bank will deposit in your saving account as a interest level you choose quarterly or half yearly or yearly. and that interest money will be taxed as per gov rules.

 

[Mlano Rock]

hey guys

I just want to know what is fixed deposit I have nil knowledge about the fixed deposit, coz I have save money for my kid and which is the best place,like banks or postoffice please suggest me with right knowledge.

FD is saving instrument. You keep your money for fixed agreed period (3 mths/6 mths/12 mths) and bank agree to give you interest in return. The interest is around 3%-4% except for forex FD which some can up to 10%. Beware, if you withdraw before maturity, you lost the interest.

As you are saving for your kids, FD is not a good instrument. You need a wealth accumulation instrument not saving instrument.

After all FD rate never beat inflation rate. Forget about government inflation rate. Your actual inflation rate is much2 higher than government publish rate. For example toll increase by 60%, rate still at 3%. Tariff increase by 27%, rate still at 3%. You will loose your buying power when your kid need the money.

Consider investment rather than saving.

 

[RsJunkie.Com]

fd ni sesuai kalau org tu konfiden taknak usik duit tu.

 

[Carson Casey]

What are the highest interest rates for savings and fixed deposit and in which bank? Which country? Can foreigner open accounts in these banks?

 

[SLK]

Losing

We can still lose value in fixed deposit if the interest returns are lower than our inflation rate. The common fixed deposit rates are about 2.5%, I think there are some around that are higher. Our inflation is already 3%, if not more than that, so we still still losing 0.5% of our money's value each year by leaving it in a fixed deposit.

 

[frennyscott]

Here the discussion regarding fixed deposit is quit informative.Individuals and organizations with the intention of retaining their savings for a fixed period for some future use.Fixed deposits are loan arrangements where a specific amount of funds is placed on deposit under the name of the account holder. The money placed on deposit earns a fixed rate of interest, according to the terms and conditions that govern the account.Fixed deposits are a credible way to make a return on investment that is somewhat higher than a standard savings account. The use of fixed deposits can also be helpful when working with various types of currency.

 

[slayer7815]

hey guys

I just want to know what is fixed deposit I have nil knowledge about the fixed deposit, coz I have save money for my kid and which is the best place,like banks or postoffice please suggest me with right knowledge.

if you want to put money in FD i would suggest put it in land banking you can get 80- 100% return in 3-5 years time