New Delhi, Oct. 26 -- When a person invests a large amount of money in a fixed deposit (FD) for a long period, it is a major financial commitment. Such a decision should be made only after proper due diligence and an understanding of the pros and cons of the investment.

Now, for example, investing Rs.50 lakh in an FD for 5 years today can help an individual generate substantial interest income that can be of immense help in dealing with day-to-day expenses, especially in the given inflation environment.

Still, if your father is a senior citizen, a legitimate and fair question arises: Could opening the FD in his name help your family earn more? If yes, how much will be the actual difference? Let us discuss this in detail, while keeping s...