Don’t get misled by high FD yield of over 12%; know how to check ‘actual’ interest rate of fixed deposits

Some financial institutions and companies even highlight a whopping "annualised effective yield" while advertising their fixed deposits. For instance, a popular small private sector bank is offering an annualized yield of 12.35 per cent for its ten-year fixed deposits. While a 12.35 per cent yield on a fixed deposit is a stellar deal, will you actually get that much return at the end of maturity?

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