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Savings Account or Term Deposit: exactly where to Invest Your additional funds
A time deposIt is a bank item that put deposit of cash to be on holding period so the depositor can only get the dollars after that period without penalty. If, for instance, you would like to visit the cash in a term deposit, you may well well be charged a penalty for withdrawing it ahead of the maturity date. In term deposit, the longer the holding period, the higher the interest and so the profit from it. In US, a time deposIt is called certificate of deposit or CD.
If you might have an ample amount of excess funds, say, $10, 000 It is advisable to invest it in time deposit or certificate of deposit rather than on standard savings account.
Maintain in mind the dollars deposited in a time deposit or term deposit cannot be withdrawn befo ...[ ]
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