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'Term-deposit' vs. 'Fixed deposit'.

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Some banks call it 'Term-deposit' others call it 'Fixed deposit'.

Is there any difference between the two?
asked Jan 16, 2011 in Banks & Fixed Deposit by smgupta1947 (13,570 points)   8 27 45
    

 
 

 

1 Answer

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In fixed deposit, you invest a lump-sum amount for a specific period of time. And in term deposit, you invest some fixed amount every month for a specific period of term. This is also called RD. Sometimes, the interest rates on both the schemes are equal and both names are used for both scheme. But the basic difference is the mode of investment.

Hope it will help you.
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answered Feb 11, 2011 by admin (47,740 points)   5 7 13

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