No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
zukisani75
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
They both refer to the exact same thing. It is just two different terms by which we are referring to this deposit product. In this, a customer deposits a lump-sum amount with the bank for a fixed amount of time at a fixed rate of interest. In return, the bank gives a certificate to the customer which he/she can surrender after the stated time in return for the invested amount + interest. They are called Time Deposits, Certificate of Deposit, Fixed Deposits etc.
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.
12 .5 % for senior citizens
Fixed return means - The returns on our investment are fixed and will not fluctuate. For example, the returns on bank time deposits (fixed deposits) are fixed and will not fluctuate.
WHO ARE THE MAJOR TARGET MARKET FOR FIXED DEPOSITS WHO ARE THE MAJOR TARGET MARKET FOR FIXED DEPOSITS Identify the major target market of fixed deposit
zukisani75
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
How do you make entries regarding Fixed deposits i n tallyRead more: How_do_you_make_entries_regarding_Fixed_deposits_i_n_tally_7.2
fixed deposit A/c dr. to int on fixed deposit
Fixed deposits placed with banks are considered as current assets. Current assets are always assets that can be liquidated within 1 year. Fixed deposits can be withdrawn at any time, eventhough their placement periods can be longer than a year.
Liability
Deposits in Dubai are almost similar to what you can avail in countries across Asia. Fixed deposits, call deposits, recurring deposits and flexible deposits are some of the common types of deposits available in Dubai.
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
They both refer to the exact same thing. It is just two different terms by which we are referring to this deposit product. In this, a customer deposits a lump-sum amount with the bank for a fixed amount of time at a fixed rate of interest. In return, the bank gives a certificate to the customer which he/she can surrender after the stated time in return for the invested amount + interest. They are called Time Deposits, Certificate of Deposit, Fixed Deposits etc.
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.