What Is the Difference Between Liquid Mutual Funds and Fixed Deposits?
In the world of managing your money, Fixed Deposits (FDs) are like steadfast companions for the long journey. But what if you suddenly need some cash with the hope of better returns? Breaking an FD might seem like an answer, but it often means dealing with extra charges like the exit load, making things tricky. Luckily, there's another choice worth checking out. But first, let's see what FDs are. Understanding Fixed Deposits Think of it like this: You decide to put some money in the bank for a certain period, and in return, the bank pays you a set interest rate. It's like planting a money tree that steadily grows over time. But what if you need to take out money before the agreed time? Withdrawing from Fixed Deposits If you need to take money out early, it's like plucking a few fruits from your growing money tree. But be careful – taking fruits too soon might mean paying some extra charges. Breaking into the money tree early could reduce the amount you get. Always check