The interest rate on this loan is lower than other loans. Loan Against FD: In an emergency, you can get a loan against a fixed deposit.Lock-in Period: A fixed deposit has a lock-in period.You can choose the monthly, quarterly, half-yearly, or yearly payout. Interest Payout: You can opt for a regular interest payout or payout at maturity.Market changes do not affect the fixed rate on any FD. The highest fixed deposit (FD) rates vary from bank to bank in India. It is fixed and does not change after investment. Interest Rate: The interest rate is higher than the savings account rate. Maximum Investment: There is no maximum limit for investment.Minimum Investment: The minimum investment amount depends on the bank or NBFC and usually varies between Rs 1,000 and Rs 5,000.You can choose the maturity in days, months, or years. Tenure: The tenure can be from 7 days to 10 years.For more investments, you need to open a new fixed deposit. Single FD: An FD account allows only one deposit.Characteristics of Fixed Deposits from Banks
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