Photo by Annie Spratt on Unsplash When it comes to securing your hard-earned money, Singaporeans have a variety of options. Among these, fixed deposits (FDs) stand out as a popular choice for those looking to grow their savings with minimal risk. Imagine fixed deposits as a cozy little nest for your money—safe, warm, and slowly growing over time. In this article, we’ll explore what fixed deposits are, their pros and cons, and how to choose the right one for your financial needs. What is a Fixed Deposit Account? At its core, a fixed deposit account is a savings vehicle that allows you to deposit a lump sum of money for a predetermined period at a guaranteed interest rate. Think of it as locking your money in a time capsule where it can’t be touched until it’s time to open it again. This setup not only helps you resist the temptation to spend but also guarantees a...