- Banking Tips
- Investment Tips
- Money Management and Budgeting Tips
Fixed Deposit Receipt (FDR):
- What are FDR? A fixed deposit receipt (FDR) is a financial instrument provided by banks in Bangladesh which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. The defining criteria for a fixed deposit are that the money cannot be withdrawn from the FDR as compared to a recurring deposit or a demand deposit before maturity. If you break the account before maturity, you would not receive the interest money but only the original sum of money which you deposited.
- Benefits of FDR: They are considered to be very safe investments. In Bangladesh, FDR is used to denote a larger class of investments with varying levels of liquidity. Usually FDR is characterized by a deposit of large sum of money over a defined period of time which would make your money grow as you would receive interests on the deposited amount. However, it's important to note that banks may offer lesser interest rates under uncertain economic conditions.