FDs for 1 year and then renewing it each year or putting it for 5 yrs at one go beneficial?
Planning to invest in fixed deposits? Confused if it is better to invest for full period or renew it yearly? No worries , our ISC experts shall provide you inputs to decide which option is better so that you can make a good choice.
However, few of my friends have told me I will be paid more interest if I put the funds for 5 years or three years at one go rather than keep on renewing it every year for 3 or 5 years. Is that true? However, when I check the interest rate online it is high for a 1 year then for 5 years.
Please, can you explain to me which is a better option and how it works?