Deposits
Instead of letting your funds sit idle in accounts, you can earn additional interest income by depositing them in a time deposit
Deposits advantages :
- Additional income
- Flexible deposit term
- No restrictions on use
- Security of funds
- Option for early termination of the deposit
Risks of fixed Deposits:
- Early Termination of a Fixed Deposit Agreement - If there is an early termination of the fixed deposit agreement, the interest rate applied for the period up to termination will be lower than the originally agreed-upon interest rate.
- When you enter into a time deposit agreement, you agree on an interest rate that is calculated from the day the funds are deposited until the end of the agreed term. The interest is paid out after the term expires
- When calculating interest on deposits, a proportional method based on the actual number of days in a year is applied, unless otherwise agreed.
For more info, please contact your financial representative.