Have you ever felt that your paycheck arrives, but your bank account balance always feels insufficient? This is a common concern among many workers and those interested in financial planning. Although we are in a low-interest-rate era, having a systematic savings strategy can still help increase your assets. Especially if you want to manage a lump sum of money safely and efficiently, a fixed deposit can be the right choice. In this article, we will examine the concept of fixed deposits and how to utilize them step by step.
The key to managing a lump sum of money: the true difference between fixed deposits and savings accounts.
A fixed deposit involves depositing a certain amount of money with a financial institution for a predetermined period,