Last week, private sector lenders HDFC Bank and Kotak Mahindra Bank revised their fixed deposit interest rates. Fixed deposit interest rates are subject to change from time to time. Senior citizens usually get a higher rate of interest on fixed deposits compared to general public. One can invest money in fixed deposits for a specific period, ranging from seven days to 10 years. Unlike stocks and mutual funds, fixed deposits offer assured returns as they are unaffected by market volatility, experts say.
A fixed deposit (FDs) is a financial instrument which offers guaranteed return.
