1 min read.Updated: 11 May 2022, 01:25 PM ISTLivemint
When it comes to investing, for most investors, the safety of the principal invested remains the most important
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Fixed deposits (FDs) allow you to invest your funds for a fixed term and earn interest at a fixed rate.
Many invest in bank FDs as it is considered to be safest savings option. When it comes to investing, for most investors, the safety of the principal invested remains the most important.
FDs can be done for tenures ranging from 7 days to 10 years. Depending upon the investment need, you can choose the term for which you would like to park your savings. But, before choosing an FD, you should compare the interest rates on offer. It's not necessary that you deposit your money for long term only. Suppose you want to go on a vacation after a year, you can start an FD for a year. Apart from your keeping your principal amount safe for a year, you will also receive interest on the same.
Here is a list of banks that offer the highest FD rates for deposits less than 2 crore for one year tenure.