Term deposits

• One-time term deposit
• Rollover term deposit
  

Types of rollover term deposits:
 

Unchanging

•  The principal remains fixed during the entire rollover period of the term deposit and the interest is credited to an account specified by the client.

Capitalised

• The principal of the rollover term deposit is composed of the principal paid into the term deposit and the accumulated interest that is credited to it.

Savings

• The principal of the rollover term deposit is composed of the principal paid into the term deposit, the accumulated interest credited to that principal, and an agreed constant amount of savings that is added by debiting the current account.

Balance

• The principal of the rollover term deposit is derived from the client’s disposable balance on an account at the rollover day. An amount is deducted from the disposable balance in the account so that a pre-agreed fixed amount remains available to the client in the current account. If the account has a credit limit in agreement with the bank, that amount is not considered in determining the amount available to be transferred to the balance term deposit.