Nope !
What does an FD give you?
Fixed "interest" over a period of time, not matter what.
Hence, any transaction, where you get guaranteed PROFIT (without any share in loss), is haram.
The bank takes your money and gives it to other borrowers at a higher interest.
It keep the difference to show its "profit" and pay the salaries.
The remaining interest (it receives from borrower) is passed to you.
Interest in any form is HARAM - whether from FD or savings accounts or debentures or bonds.
Quran says 2:275 Allah has permitted trade and has forbidden interest
3:130 O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful.
Rather, invest in halal shares/stocks or land.
Aqribullahuqarazanhasana
I want letter for bank fixed deposit
how to calculate Recurring deposit interest ?
To Manager Subject: Closing Fixed deposit account. This is to inform you that, My Fixed deposit will mature on 01/12/2012, Kindly request you to transfer the fixed deposit to my Saving account, details are mention below. Name: Saving bank account: your faithfully *****
A Fixed deposit account is one in which you deposit a specific amount of money with a bank for a specified duration of time. you cannot withdraw that money before its maturity date. if you do you would have to pay a penalty for doing the same. usually fixed deposits offers us a higher rate of interest than normal bank accounts
To the depositor, it is an income but to the bank or institution providing the fixed deposit as a product, it is an expense.
what is the disadvantages of fixed deposit
A fixed deposit in the name of a firm is not a fixed asset.
fixed deposit A/c dr. to int on fixed deposit
I want letter for bank fixed deposit
fixed deposit has its fixed term, but debenture does not have any term. fixed deposit can be invested in eqty,debt or any other , but the debenture is debt only.
how to calculate Recurring deposit interest ?
fixed deposit
Every Fixed Deposit will have a certificate linked to it. The bank would issue you a certificate that is the proof that you have a fixed deposit with the bank that is worth 'n' rupees and matures on 'x' date. You need to carry this back to the bank and submit it and ask for cashing your fixed deposit. The bank will accept the certificate and pay you the cash that is due for the deposit.
fixed deposit is an assets
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
To Manager Subject: Closing Fixed deposit account. This is to inform you that, My Fixed deposit will mature on 01/12/2012, Kindly request you to transfer the fixed deposit to my Saving account, details are mention below. Name: Saving bank account: your faithfully *****
Fixed deposit is the case in which you deposit the amount for a particular time period. Now the loan which you get against your deposit is a specific amount of money which is differ according to bank policy.