Also, if you had opted for a three-year FD or a one-year FD and gone for renewal, the entire scenario would have been different. You would have had to renew at prevailing rates, which were much lower than your original rate.
Volatility exists in FDs as well, though not as explicitly as in debt funds. Returns may be fixed with FDs. But what looks attractive now may not look good five years down the line when rate (and inflation) scenarios are entirely different.
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