Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are term deposits flexible?

April 26, 2017deposits flexible term

0

Posted

Are term deposits flexible?

1 Answer

0

Posted

Maturity dates on term deposits vary depending on the nature of the term deposit. You choose the term for general short-and long-term term deposits; other types of term deposits have defined durations. Depending on the term deposit, you may also be able to choose whether the interest is compounding (reinvested in your term deposit), deposited into your chequing or savings account periodically or upon maturity, or rolled into a new or renewed term deposit.