Should you invest or save your money in Fixed Deposit ( FD ) || Mini invest

The Investment gives support in your old age. Every people should make an investment or do the saving for the old age. 

Designed for risk-averse investors, fixed deposit accounts allow you to earn interest on the deposited amount over a hard and fast period of your time. The rate of interest usually varies from 4.50% p.a. to 8% p.a. counting on the tenure, which is typically up to 10 years. Some lenders also offer to 0.5% additional rate of interest for senior citizens.

How Does a hard and fast time deposit account Work?

When you put your money to figure in fixed deposits, you basically lock the quantity for a hard and fast period of your time. you'll earn interest on the principal throughout the tenure, on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.

Since the tenures are flexible, you've got the choice to manage multiple FD accounts spread across different tenures. That way, you'll be ready to earn more on your investments. Senior citizens are eligible for extra rates, usually 0.50% quite the prevailing rate.