savings account: How are they different?įixed term deposits offer a guaranteed rate of return on your money for the life of an investment.
Please note that we do not accept Osko or PayID payments into term deposits. You can transfer funds via cash in branch, or electronic funds transfer. What payment methods do you accept for Term Deposits?
But if you withdraw some or all of the deposit before the agreed term finishes, you may incur a penalty that is deducted from the accrued interest. It can be an attractive option because the interest rate is usually higher than regular savings account rates. A term deposit is a fixed term savings account that offers a safe, guaranteed rate of return on your money for the life of an investment.
