A fixed deposit or FD and Non convertible Bond (NCD) are an investment product offered by banks and Non-Banking Finance Companies (NBFCs). In FD and NCD , you invest for a set amount of time and get a fixed interest rate...  You know at the time of investing what interest rate you will get and how much money you will receive at the time of maturity. This FD is unsecured and carries credit risks. NCD may be secured or unsecured and carry credit risks .We therefore distribute FD  and NCD of companies having good track records and higher credit rating and always monitor the performance of the company .