Question

Ii)What is meant by fixed deposit?​

Answer 1

Answer:

Fixed Deposit is a financial instrument issued by banks or NBFCs that provides borrowers with a higher interest rate than a normal savings account, until the due date. They may or may not require a separate account to be established.

Answer 2

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.