There are typically two types of FDs: cumulative and non-cumulative."In a cumulative FD, interest is compounded annually and reinvested with the principal, leading to increased returns over time as the interest earned is added to the initial investment.
In contrast, very short-term and long-term FDs provide comparatively lower interest rates," says Kuppa.
On the other hand, non-cumulative FDs cater to investors who prefer regular interest income, as interest is paid out periodically – monthly, quarterly, half-yearly, or annually – based on the selected payout frequency," says Shetty.
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