FD to My Rescue

Fixed Deposits (FD) has been an dull venue to make your money grow, as far as I am concerned. It is only to be used if you have some spare cash that you don't need to use in the near future. And it is also a tool that helps people in the near-retirement category, where they are not willing to take much risk in equities or other similar kind of investment vehicles.

So, what about me or others in my category, who prefer to take more risk with their money? Can't FD help us at all? Or so I thought, until recently. I found that the FD account can be renewed on a monthly basis. And in case the need arises for me to use the cash for emergency purposes, I still have the flexibility to do so.

You see, the arrangement for my maid's salary is like this: I only have to pay her full 2 year's salary when she completes her contract. Until then, I'm allowed to put her monthly salary in a separate account (not necessarily under her name) in case the authorities request to show proof of me paying her salary.


Until I make the full payment to my maid who is going to be richer than me, I decided to bank in her monthly salary to a special FD account created for this purpose. I'll make some extra cash (even though its a very small amount), which I won't see if I just let the money lying in a savings account.