Personal Finance Planning to open fixed deposit account? Here are 4 things to consider before investing Updated : August 29, 2020 01:36 PM IST Fixed deposits (FDs), also known as term deposits, are one of the best options for people looking for an assured income as they are risk-free. In FDs, a lump sum amount is locked-in for a specific period. Investors can choose tenure usually in the range of 7 days to 10 years. FDs are offered by commercial banks, small finance banks as well as non-banking financial companies (NBFCs). Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.