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Fixed Deposit rates are now below 0.5%…What’s next in the Investment Risk Pyramid?

Fixed Deposit rates are now below 0.5%…What’s next in the Investment Risk Pyramid?

Exactly one year ago, the average fixed deposit (FD) rates of local banks were around 1.6%. Today, the average rate is at 0.4%. That is a substantial 75% reduction.

This is a true rude awakening to the people who often put their money in fixed deposits on a yearly basis, hoping for better renewal rates every year.

For those who don’t know what fixed deposits are and how they work, here’s an explanation:

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