Fixed Rate Bonds, is it right for you?

Anjali_kashyap27 Jun, 2022Business

Fixed bond saving accounts are interest-paying accounts usually targeted at individuals who can keep their money stored away and don?t need regular access to their money. Fixed-rate accounts are ideal for those putting money aside for a particular purpose, such as purchasing a car or holiday. There is a range of terms to choose from to match your saving need so that your funds will be ready by the time you need them. Depending on the fixed-rate account, you might get one two-year term, though some terms last a few months. And are offered by banks and financial institutes. Like many other accounts, Fixed-rate accounts have advantages and disadvantages to having one.