FD is one type of account which is facilitated by the banks, NBFCs and other financial institutions where an account holder or depositor or an investor lends money to the banks or the financial institutions for a fixed period of time and in return the banks or the institutions pays out a fixed rate of interest to the depositor for that fixed period of time.
FD or Fixed Deposit is the major part of banking system, it plays a vital role in financial budgeting for common people.
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