Fixed Deposit is also known as Term Deposit. Fixed
Deposit means an amount is deposited at Bank for a fixed period. The bank offers
a fixed rate of interest for that period. The banks offers a wide range of
period; from 7 days to 20 years. The interest rate varies according to the
duration.
Types:-
• TDR - Simple Term Deposit Receipt (Interest payble on Maturity)
• MIP - Monthly Interest Payble (Interest payble Monthly)
• QIP - Quarterly Interest Payble (Interest payble Quarterly
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