Do you have a fixed deposits

[nomad]

Fixed deposit is a saving account where you lock your cash for certain months/years and earn higher interest compared to a normal saving account. Do you have fixed deposit bank account?

 

[eldavis]

I have some wallets and online banks that has these features, so I make use of them instead of opening a fixed deposit account from my bank.

 

[Sanjeev]

Yes, I have a fixed deposit of particular amount but I think it's not a good option to invest in FD as thre is less interest rate on it.

 

[Shavkat]

I have not tried it yet. Although my younger sister is having it with her dollar account in a bank.

 

[nomad]

Yes, I have a fixed deposit of particular amount but I think it's not a good option to invest in FD as thre is less interest rate on it.

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.

 

[Shavkat]

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.

 

[Sanjeev]

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.

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.

 

[Ratine]

For me l don't have more money to keep depositing in the fixed deposit accounts in banks.

 

[Sawe]

Yes, I have a fixed account on my mobile money account. I am currently saving some money for two months I will use to buy a new laptop.

 

[King Belieal]

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.

 

[Springtime]

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.

 

[Sanjeev]

I don't block my money in FDs now a days as they don't provide much money after the maturity. I feel better to invest my money in mutual funds or stock market.

 

[Hate2Wait]

I have a couple of FD's and may not get these extended because I feel its not a good option looking at the increase in the inflation