There are different investment options where you can make more money than a fixed deposit. To begin with, there are a range of debt mutual funds which invest in different instruments such as Government securities, money market instruments, commercial paper etc. These have a fixed return that is often on par or higher than fixed deposits without locking capital. After you get some comfort investing in mutual funds, you can invest in hybrid and equity mutual funds. The risk on these is higher than a debt mutual fund, however, they have a greater chance of improving and growing your capital.