It is an investment account where money is deposited for a fixed period and the interest rate does not change. It offers higher interest rates than ordinary savings accounts and is ideal if you want to save for a specific goal, like expanding your business, restocking, land acquisition, wedding, holidays, etc.
Benefits
- You can choose an investment period
- There are no service fees charged
- Several investment period options are available – from 3 days to 365 days
- You can have more than one fixed deposit if you want to save for different goals
