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Learn · Term deposits · 6 modules
Term deposits, from the locked rate to the last day.
6 short modules, 3 minutes each
Basics
If you’ve never had a term deposit- How a term deposit worksMoney put away for a set time, at a rate that can’t change while it’s there.3 minutes · 2 pages and a questionStart
- Rates for different termsWhy a rate is for a whole year, and how rates differ from 3 months to 5 years.3 minutes · 2 pages and a questionStart
- Interest paid monthly or at the endGetting interest each month or all at once, and why monthly often pays a little less.3 minutes · 2 pages and a questionStart
Going further
Once you know how the rate is locked- When the term endsYour choices on the last day, and the rate it renews at if you do nothing.3 minutes · 2 pages and a questionStart
- Taking money out earlyThe notice most banks ask for, and the interest you give up.3 minutes · 2 pages and a questionStart
- Reading a real term depositTwo real deposits, each showing one thing the modules before taught.3 minutes · 2 pagesStart