What is a Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument provided by banks and NBFCs which offers a guaranteed rate of return over a fixed tenure. It is one of the safest investment options available.
How is FD Interest Calculated?
Interest on FDs is typically compounded quarterly. The formula is: A = P(1 + r/n)^(n*t) where 'n' is the number of times interest is compounded per year.
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