We all know about the Savings Account, an account under which our money is kept safe. If the money is kept in the savings account for a longer period, then there is also profit in it.
Not only this, if the money in this account is used properly, then good returns can also be found. All you need to know is where and how to invest the money. To invest “certificate of deposit” ( Certificate Of Deposit) is a good place to let out a few important things about it;
Know where you will get the scheme of Certificate of Deposit?
Talking about the Certificate of Deposit scheme, it is almost like FD. You will find this scheme in every private and government bank.
What is the difference between FD and CD?
The major difference is tell you the term to the FD (Fixed Deposit) than certificates of deposit ( Certificate Of Deposit) is a short duration. FD is a minimum period of 5 years the Certificate of Deposit ( Certificate Of Deposit) is the period (Tenure) from 3 months to 1 year. That is, under the Certificate of Deposit scheme, you can invest money for a minimum of 3 months and a maximum of 1 year, if you want, after the completion of the period, you can invest it again in the same scheme.
The interest earned in Certificate of Deposit Scheme is much higher than the interest earned in Savings Account and FD. If you also want to invest money in this scheme, then first go to your bank to find out all the details related to this scheme and only then invest money in certificate of deposit.
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