[bestwriter]

The interest in banks is seen going down systematically.

Cumulative bank fixed deposits will not affect interest rates until the maturity date. A five year cumulative deposit is what I would recommend The interest rate gets compounded in that the amount deposited in the first year becomes the principle amount the next year after adding the interest earned and this system goes on till the redemption date.

[augusta]

I think this is like fixed deposit where you put money for a period of time and it keeps accumulating interest for the whole period. it's a brilliant idea

[bestwriter]

I think this is like fixed deposit where you put money for a period of time and it keeps accumulating interest for the whole period. it's a brilliant idea

It is a fixed deposit and the plus point is the interest rate at which you deposited will not go down. The bank is committed to pay you the same interest till the end.

[Treborika]

Its like an interesting means of income. Just liked the idea of deposit such an amount then sit back and relax. Then earn while you sleep

[bestwriter]

Its like an interesting means of income. Just liked the idea of deposit such an amount then sit back and relax. Then earn while you sleep

Absolutely. The interest rate does not go down. The bank is committed to give you the same interest up to maturity of the deposit.

[Tendz]

If money is not needed for a fixed duration of time, then cumulative fixed deposit is better option. Returns will also be higher on cumulative as interest is paid on interest.

[sweerie_banana]

Funny how I have zero in my ban account. I prefer investing. Waking up knowing I have extra money that I can access gives me endless plots. I can decide to take a vaccation. Lol I actually prefer5 to invest , watch my money grow, and not have access to it for a number of years. In any case one mans meat is another mans poison.

[bestwriter]

Funny how I have zero in my ban account. I prefer investing. Waking up knowing I have extra money that I can access gives me endless plots. I can decide to take a vaccation. Lol I actually prefer5 to invest , watch my money grow, and not have access to it for a number of years. In any case one mans meat is another mans poison.

Even cumulative deposit is some form of an investment where the returns are fixed unlike investments elsewhere where they can fluctuate. Where have you invested?