3 bad things about time deposits! Depositors must read!Do you want to invest? If you want to invest but don't want to be risky, then Fixed Deposit is the best choice! .Time deposits refer to depositors depositing cash in a time deposit account opened by a banking institution. It is agreed in advance to save for a fixed period of time and obtain a return at a higher interest rate than demand deposits. After the expiry period, one can receive principal and interest A form of savings.If the depositor withdraws the time deposit before the agreed savings period, the bank usually discounts the interest and sends it to the depositor or handles the business as a demand deposit.The method of calculating time deposits is calculated in days, which is why the amount of investment recovery every month is different.Here to share with you 3 major disadvantages of time deposits! .1. No flexibility to accessyour funds.
Time deposits are investors who put money into a bank and then give investors back funds according to the term.If the investor withdraws the investment in advance before the deadline has been reached, the investor will lose the due repayment.The user can only feel whether the investment funds are reinvested or withdrawn after the deadline.The term of a fixed deposit is usually 1 month, 3 months, 6 months, 12 months, etc.2. Relatively low investment returns.Time deposits are considered low-return investments.However, compared with ordinary bank savings account interest, time deposits are not bad! However, compared with some high-risk investments such as real estate, stocks and funds, the repayment of time deposits is less.The so-called high risk can get a high return, and the investment risk of time deposits is almost zero, so the return is relatively low.The current inflation is about 3%. If you use the 3.5% interest rate on time deposits, you will get only 0.5% (3.5% -30% = 0.5%).3. It's not fun.The return on time deposits is low, so investing is boring and risk-free.If you're impatient, fixed deposits may not be right for you! Because time deposits can only be withdrawn after the deadline has been reached.
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