I just want to understand something. Say a bank says 12% interest on fixed deposit. They also have options for 3 months 6 months 1 yr 2/3/5 years etc. How will the interest be added on my principal amount? Like if i deposit my money in FD for 3 months @ 12% will it be the same as FD for 6 months? For example i have 10lakhs, ow how much will be my return if set it up for 3months vs 6 months vs 1/2 years. Kindly if anyone could explain it to me. Thanks in advance
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