Thursday, December 8, 2011

Can you tell me about the mechanics of time deposit?

what i need to do and not to.


thank you.|||All banks offer time deposits. You invest a flat amount of money for a fixed term and a fixed interest rate. At the end of that term you get your money back plus interest. For example if you invest $1,000 in a 1 year time deposit at 1% you will get $1,010 at the end of that year. If you withdraw early you will pay a penalty.





Right now a time deposit is safe but the return is terrible.

No comments:

Post a Comment