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What are the interest payment methods and frequency options for a Time Deposit Account (TDA)?

April 26, 2017account deposit Frequency methods Options payment TDA time

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What are the interest payment methods and frequency options for a Time Deposit Account (TDA)?

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Customers may choose to have the interest either added to the principal at maturity or transferred to another deposit account. The available frequency options are as follows: At Maturity Option: the interest will be paid at end of the Time Deposit term (Note: interest will be paid at least yearly when TDA term is over one year). At Monthly Option: the interest will be paid monthly. This option only applies to Prime Rate Time Deposit Account and Prime Linked Time Deposit Account a. interest transferred to another deposit account b.