What Are Some Facts About Time Deposits?
As the name suggests this is a kind of deposit you make in your bank or some other financial institution for a certain period of time and at the end of that period you get your money back with a certain additional amount as interest. But there some facts that you need to know before making this kind of investment in your bank. The first and foremost fact you should know about time deposit is that you can’t withdraw your money before the term of your investment expires. In some cases, though you can withdraw, but then you will loose a decent amount that should have been yours your money has earned as interest. So it is better for your money if you decide earlier that for what period you should invest.
