Bank fixed Deposits are the most preferred mode of investment most people in India. In fact most consider it the safest and steadiest way to save and grow money. However is it so steady?
Well, like any other asset class fixed deposits also go through several cycles annually. So to call them steady, is wrong. In fact based on the bank’s decision to raise the interest rate or truncate it, they go through ups and downs . The State Bank of India for example, increased the rate of interest on fixed deposit by 1% a couple of days before.