Key Points
Bank fixed deposits (FDs) have long been a preferred option for investors, particularly those who are cautious and want to protect their wealth..
Bank FDs are known as term deposits in the banking industry since they have a set period that might be anything from seven days to as long as ten years..
All maturity proceeds along with the initial investment will be transferred into your account upon the successful closure of the fixed deposit account..
It will be much simpler for you to close the FD account on maturity if you opened it online through internet banking when you first opened the account..
Banks typically provide their clients the option to close their fixed deposits well in advance of the scheduled maturity date..
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