Do you have a fixed deposits
- Thread starter nomad
- Start date
- Thread starter
- #5
About a year ago, banks were giving upto 13 percent interest on fixed deposit in our country, and how they have cut it to 7 percent.
The cut is almost half. This is the problem after the pandemic. They had changed drastically.
That's the problem. The interest rate is too low these days for FD. People here don't do FDs now a days instead they go for mutual funds.
I don't yet have a fixed deposit but I am intending to open one soon. I think I need to start locking up some funds for my business.
Yes, I have a fixed deposit account. As the US has raised interest rates a few times, HK dollar is pegged with US dollar, the interest rate for fixed deposit is pretty high these days.
I also have on FD which will mature in October or so and I am not going to extend it. I will invest that money somewhere else.
It is also the same thing here. Although I have a bank account that it does need to have maintaining balance.
