Raguragavan Sreetharan | What Is Time Deposit?

Raguragavan Sreetharan | Fixed-term deposits represent a form of investment in which a certain amount is invested at a certain interest rate and for a predetermined period. The conditions, i.e. amount, interest and investment time are contractually agreed on beforehand. After the agreed time span has elapsed, the amount invested and the interest will be paid to the customer’s reference account. That is why you refer to this type of investment as a time deposit. A condition of any fixed-term deposit contract is that you cannot access the deposit during the investment period.

Raguragavan Sreetharan
Raguragavan Sreetharan

The interest rate on the fixed deposit depends on the situation of the interest market during the conclusion of the contract, the duration of the deposit and of course the amount invested. If the time deposit is not properly cancelled by the deadline which is specified in the contract, the provider will usually automatically renew it at the current interest rate of the previously agreed period. Before the contract is concluded, however, it can also be agreed that the sum will be transferred to a reference account after the time deposit expires.
Security is what makes fixed-term deposits so attractive to investors. At the same time, this type of investment also seduces by the guaranteed amount of interest. The steady growth of the invested capital is guaranteed.

The deposit period | Raguragavan Sreetharan

The periods differ greatly from provider to provider and vary from a few months to several years. The higher the fixed duration of the fixed deposit investment, the higher will be the investment interest rate. Fixed-term deposits are particularly useful when short-term funds are available which can be Invested.

A medium-term contract should be in most cases the smartest decision for the optimal investment duration since the interest rates can change. Which means it can be profitable for you to invest the money again after the term deposit period has expired under better conditions. Depending on the interest rate of the investment and the situation of the current interest market, a period of 1 to 3 years should be considered for a fixed deposit. Your money is not tied up too long and can be reinvested if interest rates change, or of course, used and invested otherwise.
Investment times that are too short usually result in a low-interest rate, which is why the profit is then comparatively low.

Raguragavan Sreetharan | What should you pay attention to when depositing fixed deposits?

Due to the vast amount of offers and the different conditions of the providers, you should definitely consider comparing the options before making a deposit.
To points such as the amount of the minimum and maximum deposits, the interest rate, the term length, and possible account management fees You should pay particular attention to.

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