What is Non-Callable FD?
Hey Krishika,
I actually learned about Non-Callable FDs when I was looking to park some of my savings in a fixed deposit for better returns. You know how we usually get the option to break an FD before maturity if we need the money urgently? Well, Non-Callable FDs don’t allow that. Once you invest, you’re locked in until the maturity date.
Banks offer higher interest rates on Non-Callable FDs compared to regular ones. One important thing to remember, if there’s even a slight chance you might need that money in between, it’s better to go with a regular FD instead.