A deposit made in a bank, company or financial institution for an exact period and to receive a fixed rate of return is called a fixed deposit. The 'fixed' in fixed deposits denotes the period of adulthood or tenure. Fixed deposits, then, assume a certain length of time for which you decide to put your money in a group. The term also chooses the rate of interest you earn. Refers to the duration or period for which you want to invest your money.
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