Fixed & Term Deposits
A term deposit account is an investment product designed for the customer who wants a higher rate of interest than is available on a regular savings account. In the term deposit the amount invested (principal), and the time (period) are fixed.
Account Features
- Minimum deposit of BBD$10,000.00
- Minimum term of one year
- Interest payments will be made periodically
- Early redemption penalty of 2% less than the agreed rate at the time the deposit was opened
- Interest rates are tiered
- Automatic renewal on maturity, at prevailing rate, unless the bank is notified prior to maturity date
