CIBIL Score – Everything one needs to know

What is CIBIL? Credit Information Bureau (India) Ltd or CIBIL is a credit information company which collects and maintains individual’s payments of loans and credit cards.   What is CIBIL Score? CIBIL TransUnion Score is a 3 digit number ranging from 300 to 900 points. What is Credit Information Report (CIR)? Credit Information Report (CIR) is…


Difference between Fixed deposit and Recurring Deposit

Before getting started to the difference between fixed deposit and recurring deposit, it is wise to understand the meaning of both the terms. Fixed Deposit Fixed deposits (FD) are deposits with banks or some other financial institution for a predefined time period. An investor has to deposit a fixed amount of money (ranging from thousands…


Fixed deposit – Meaning and features

Meaning of fixed deposit: A fixed deposit (FD) is deposit with banks or some other financial institution for a predefined time period. An investor has to deposit such a fixed amount of money (ranging from thousands to lakhs) at the time of creating FD. The interest rate levied upon fixed deposits is higher than interest…


Recurring deposit – Meaning and features

Meaning of Recurring deposit: Recurring deposit is a type of term deposit made for saving purpose. It provides an investor the flexibility to save a specific amount of money every month in RD account. The amount may vary from a thousand to lakh per month. This amount has to be deposited with a financial institution…


Term deposit – Meaning & features

Term deposit is type of investment option in which an investor deposits a fixed amount for a predefined period. In India these types of deposit are offered mainly by banks to their existing customers. In a term deposit an investor has the flexibility to choose a time period (maturity period). These deposits attract a fixed…