The story started when I was a child, and I always wanted to make money online or use some other ways and not directly by working in offices.

Although this is not entirely true, there is a method, which people don't take advantage of and is 99% risk-free.

I am talking about Fixed Deposits.

How Fixed Deposits help in making passive income?

Fixed Deposits are saving schemes, where you can save money for a month, quarter, or year. Although interest rates are lower than other investment products, still it is one of the safest investments that you can make.

You can get anywhere from 7% to 8% returns on your investment depending upon the bank and if you are a senior citizen or not.

When did I invest money in Fixed Deposits?

It was around 2018, when I was able to save around $3500, and it was this time that I thought to invest my savings into Fixed Deposits.

When I saved my money in the FDs, after a year, I got a return of around $250, which although isn't much, as per the amount I had invested, and the salary that I used to draw, I was able to get 1 month's salary from the investment that I did.

This helped me in many things. As I had one month's salary saved, I was able to get gifts for my family. I was also able to go for trips around my countryside, which made me think, this is a great way to invest money and earn a passive income.

Can we scale it up?

Yes, we can. Currently, I have a saving that easily gets me around $30,000+ using Passive Income generating over these Fixed Deposits and I am only 30 years of age.

However, I worked hard to earn that much investment before generating the passive income. 

How can you make a passive income source like this?

The only way to do this is by working hard on your dreams. You will have to find a niche that you are interested in or get a high-paying job in the first place to make funds available for investment in fixed deposits.

Then you will also have to ensure that you have a good Tax Consultant because income from passive sources is also taxable. Or maybe you can check in your country.

One of the ways by which I was able to save money was by focusing on my savings. Once I had a substantial amount, I used to invest the same in my fixed deposits, and then again I used to save for some more time and add those funds to other fixed deposits.

For this, I used to activate automated deductions from my account because I knew if my salary came, I might not be able to save it, so auto deductions helped in disciplined investments.

So, one can say that this can be done, but initially there is hard work to ensure you have an investment pipeline, and then all depends on how you invest your money.