What Are the Differences Between Term Deposits and Fixed Deposits?

If you were to walk into your bank to make a deposit, would you know whether you are making a term deposit or a fixed deposit? Would you even know the difference between the two?  Although there is no major difference between the two, bankers tend to use the word �term� most frequently. There are some slight differences, however, that can be discerned. A term deposit is typically used when a deposit is extended for three to six months, whereas a fixed deposit is for a period of ti … [Read more...]