You give your money to the bank, and they return your principal plus interest after the tenure is up. Simplicity: The simplicity of fixed deposits makes them popular among our parents’ generation, since you don’t need any skill, luck, or experience to make money from fixed deposits.
Read Also: 6 Investments In Singapore That Provide Guaranteed Principal And Returns Advantages Of Fixed Deposits In this article, we’ll examine whether they still have a role to play for your investment and budgeting needs. Fixed deposits are a way to earn guaranteed returns on your money that are higher than savings accounts while still being virtually risk-free.
