Fiduciary is a person who holds a legal or ethical relationship of trust with another person and has authority to act on their behalf, for example, lawyers, trustees, administrators and custodians. The fiduciary manages assets of the other person without profiting themselves.
An investment instrument wherein a fixed amount of money is deposited with the bank for a fixed time span at a fixed interest rate which is usually higher than the interest rate offered by a savings account. The money can be withdrawn at maturity or at regular intervals depending upon one's requirements.
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