We all love money and wish to be millionaires one day. But not all of us are lucky to inherit a wealth or hit a jackpot to turn into millionaires overnight.

The option available for most of us is to adopt conventional methods of saving and investment.  Even with the plethora of avenues like stocks, real estate, Mutual Funds and the like available presently for saving and building on that saving, the most traditional method, being Fixed Deposit still remain a popular choice among the masses.

Skeptics may argue against this form of investment citing inflation unfriendly and taxability of returns, but this traditional method of saving still retains an edge over others on many counts.

Let us understand some benefits of this saving scheme where the deposit of a principal amount for a fixed tenure with higher interest rates enables one to enjoy the principal along with interest earned over the tenure, when it attains maturity.

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