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Bank Deposits

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Bank Deposits hardly beat inflation.

However, they offer guaranteed rate of return in the form of Interest.

They are highly liquid and the most sought after investments.

Use Bank Deposits to the level they are essential for you.

For example, they can be used for parking money for use in an emergency.

However, it will be unwise to use Bank deposits to save for the purpose of retirement which would probably be 20 years away!

Those who are already retired or senior citizens can use a part of their overall corpus in the form of Fixed Deposits to earn regular interest.

Are fixed deposits of private banks safe?

Can someone suggest if opening a Fixed Deposit in Equitas Bank is safe? They offer 8.8% interest for all including nre.

Bank Deposits are technically safe and guarantee returns.

Equitas Bank is a private sector bank but I think it is a decent one and as good as any other private bank.

However, if the saving is for the long term, avoid bank deposits because they are taxable and hardly beat inflation.

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