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A term deposit is a cash investment held at a financial institution for a known or agreed rate of interest over a fixed amount of time (term). The term usually ranges from 1 month to 10 years.

This is typically designed for investors or people who have some funds to be packed while waiting for the appropriate time to use or invest it. For the funds to be sitting in a bank account which may not generate any interest, you will be better of to generate some interest using Term deposit. It can also be used as part of investment mix.

Benefits and features include:

  1. Capital security.
  2. Pre-determined interest rate.
  3. Interest calculation is made daily and paid at the time of maturity or annually to your nominated amount.


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