Fixed account protects you against falling interest rates during its lifetime.
• Minimum 1 year / maximum 3 year terms
• Interest payments made at 1, 3, 6, or 12 month intervals
• Interest rate is fixed in for the duration of the account.
• Interest payments are automatically transferred to a demand account that you must designate at the time you open the account.
• The account protects you against falling interest rates during its lifetime.
• The account provides you liquidity through the periodic interest payments.
This account is not recommended for those who might have to withdraw their money before maturity. In case of early withdrawal, the rate of interest paid on demand deposits becomes applicable instead of the long-term rate and the difference between that and any interest payments that have already been made will be charged against the principal.