How do I double my fixed deposit?

To double your Fixed Deposit (FD), you can consider investing in a Fixed Deposit Double Scheme offered by many financial institutions. Unlike traditional FDs where the tenure and interest rates are flexible, a Fixed Deposit Double Scheme is designed specifically to help investors grow their money over a pre-defined period to double the investment.

What is a Fixed Deposit Double Scheme?

A Fixed Deposit Double Scheme is a special investment product that offers a higher interest rate than regular FDs and uses quarterly compounding to help double your investment over time. This scheme typically has a fixed tenure and investors can deposit a lump sum amount for the duration of the scheme, often varying from 6 to 10 years, depending on the prevailing interest rates.