Yes, it’s safe to invest in fixed deposits as all bank deposits are insured up to Rs.5 Lakh by DICGC which is a wholly owned subsidiary of the Reserve Bank of India (RBI).
Who holds the money invested in a fixed deposit?
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The money is safely deposited into a fixed deposit account of an RBI licensed scheduled commercial bank.
Can I withdraw my money from a fixed deposit?
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Yes, you can withdraw your money anytime after completing a short period of 7 days.
Coming to app soon.
Fixed Deposit will be available on the Groww app soon.