What are FD receipts?

FD receipts, or Fixed Deposit receipts, are financial instruments issued by banks or financial institutions to acknowledge the deposit made by a customer in a fixed deposit account. They serve as proof of the deposit and detail the amount, tenure, and interest rate. FD receipts are typically non-negotiable and can be used as collateral for loans or for other financial transactions. Overall, they represent a secure investment option that offers fixed returns over a specified period.