What is the minimum period for which a fixed deposit can be done?
Understand the Problem
The question is asking for information regarding the minimum duration for which one can invest in a fixed deposit, providing multiple choice options.
Answer
7 days
The minimum period for a fixed deposit is 7 days.
Answer for screen readers
The minimum period for a fixed deposit is 7 days.
More Information
The flexibility of fixed deposits allows investors to choose between short-term and long-term commitments, potentially strategizing to maximize interest returns based on their financial needs.
Tips
A common mistake is assuming the minimum period is longer, such as 1 month or 3 months, due to older financial products or differing banking policies.
Sources
- What is the minimum period of fixed deposit - dbs.com
- Fixed deposit - Wikipedia - en.wikipedia.org
- Short Term Fixed Deposit(FD) - Interest Rates, Eligibility and Features - groww.in
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