Long Term Deposits 2

This audit program is for the deposits paid during the year.

A fixed-term deposit is an investment option with a fixed interest rate. You choose the amount of time (the “term”), and your money is untouchable until this term is up. Your money earns a set amount of interest during this period.

A long-term deposit generally means you are locking your money away for one year or more, and up to five years. With a long-term deposit, you can generally choose to have the interest you earn paid into your savings account monthly, quarterly, or annually.