In Indian, there are multiple types of tools where you can invest and get a decent amount of interest, but FD is one of them because it offers fixed and guaranty returns. There are two types of FD firestone if the cumulative fixed deposit and second id noncumulative FD based on interest payout. Before selecting between two options, you should know the meaning of these two types of FD.
Cumulative FD: If you select the cumulative FD, the interest rate you earn only once in a year after maturity. when your tenure is completed then you receive your principal amount along with interest rate. some of the time people are again investing his received amount for the next year.
Noncumulative FD: This is another type of FD tool where you can earn your FD interest rate monthly quarterly and half-yearly it depends on you which payout you select. this type of FD investment offered by the maximum lender.
Which one is good for senior citizen
Both are good for the senior citizens but it depends on you what is your requirement. that means you required monthly payout or half-yearly or yearly payout.
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