This is a work in progress
This article requires a complete rewrite as the author has used terms like "as explained earlier" and "case" which are used in legal and financial documents but are not used in web pages, let alone an encyclopedia. I had to read the article a couple of times to understand the flow of content. I have removed the following text
'Fixed deposits are a kind of high-interest-yielding deposit offered by banks in India, where bank accounts can be broadly categorised into 2 types :
- Demand deposits, which are repayable by the bank to the customer on demand-They offer high liquidity but correspondingly low or no interest. Includes the Savings Accounts and Current Accounts.
- Term deposits, which are repayable after expiry of the term, that is, on maturity. In return for the low liquidity (ease of withdrawing money), they offer higher rates of interest than the demand deposits.