A fixed deposit is meant for those investors who want to deposit a _______ of money for a fixed deposit.
A fixed deposit is meant for those investors who want to deposit a Lump sum of money for a fixed deposit.
A fixed deposit is a type of deposit account offered by banks and other financial institutions that is designed for investors who want to deposit a lump sum of money for a fixed period of time, usually ranging from a few months to several years.
When an investor opens a fixed deposit account, they agree to deposit a specific amount of money with the bank for a fixed period of time, and in return, the bank pays them a fixed rate of interest on their deposit.
The interest rate offered on fixed deposits is generally higher than the interest rate offered on savings accounts, and the longer the term of the deposit, the higher the interest rate is likely to be.
One of the key features of a fixed deposit is that the investor cannot withdraw the funds before the end of the fixed period without incurring a penalty