Time deposit vs savings account: key differences.
A savings account provides day-to-day liquidity, while a time deposit locks funds for a set term in exchange for fixed interest.
Time deposits can offer higher returns than regular savings, but you give up flexibility until maturity.
For conservative savers, time deposits can be used as a structured way to set aside funds for a known date.
A blended approach can work: keep emergency cash in savings and place surplus funds in time deposits with laddered maturities.
Quick checklist: confirm the deposit amount, tenor, displayed rate, maturity date, and settlement account before you finalize the placement.
If you are planning multiple goals, consider a ladder across different maturities so you get periodic access to funds without early termination.
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There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form.
