Fixed Deposits (FDs) have been considered as one of the safest ways to park money, save taxes and other benefits. Throughout the tenure of the FD, the interest rate remains constant beating inflation and most fixed deposit schemes offer a higher rate of interest than that offered by regular savings account schemes. aaa
FDs provide higher interest rates than regular savings accounts. Reports suggest that SBI and HDFC will end their special fixed deposit plans on March 31.
FD rates for senior citizens: Lenders such as HDFC Bank, ICICI Bank, IDBI Bank, SBI had introduced special fixed deposit schemes for investors above 60 years during the Covid-19.