The very idea of banking is rooted in deposits. A banker guarantees safe keeping of the depositors funds and in return pays some interest. In the meantime, the deposits accumulated by a large aggregation of depositors is put to profitable use by lending to creditors and financing other investments, earning interests and other profit.
The traditional deposits were meant for the purpose of accumulating funds, usually put in a savings account to earn a monthly interest. It could be withdrawn by the depoditor at will. Beyond and above that, other forms of investments are available, which require giving up funds to banks for specified periods and, usually higher, interest rates.
Most banks and financial institutions display their fixed deposit rates (along with their foreign exchange rates) in their banking halls. Otherwise, they’re generally available on demand over the counter or from customer service officials.
People who have come into possession of large sums of money, such as pension or severance payments, inheritances or gifts often find they could be living off the interests on their fixed deposits without touching the principal.
On these pages we’ll strive to provide you all the relevant information on the opportunities for fixed-deposit investments in the banking industry. We’re working closely with banks to learn about the spectrum of products and opportunities that are on offer in order to convey the information to our readers.
Some useful links: