What Are Term Deposits?

A Term Deposit is a type of investment where you deposit a sum of money with us for a fixed period, ranging from a few months to several years. In return, you receive a higher interest rate than a regular savings account. Your investment is locked in for the term, and you’ll receive the principal along with the accrued interest when the term ends.

Why Choose Term Deposits?

• Guaranteed Returns: Enjoy the certainty of fixed interest rates over the term of your deposit.
• Low Risk: Term Deposits are one of the safest investment options as your principal is protected.
• Higher Interest Rates: Earn better returns compared to regular savings accounts.
• Flexible Terms: Choose a term length that suits your financial goals, from short-term to long-term investments.
• Automatic Renewals: When your term ends, you can choose to renew the deposit or withdraw the funds with interest.

Types of Term Deposits

Fixed-Rate Term Deposits

Our Fixed-Rate Term Deposits offer a guaranteed interest rate for the entire term of your deposit. This is ideal if you want to lock in your return and avoid market fluctuations.

• Fixed interest rate for the entire term.
• Secure returns with predictable payouts.
• Available in various term lengths to suit your financial needs.

Variable-Rate Term Deposits

With a Variable-Rate Term Deposit, your interest rate is linked to the market, which means your rate can change during the term of the deposit. This can be beneficial if you expect interest rates to rise during your investment period.

• Interest rate adjusts based on market conditions.
• Flexible and dynamic for those looking to benefit from potential rate increases.
• Ideal for medium to long-term investments.

High-Risk Term Deposits

For those looking for potentially higher returns, our High-Risk Term Deposits are tailored to individuals who are comfortable with higher levels of risk. These deposits offer an opportunity for higher interest rates, with the understanding that your returns may vary.

• Higher potential returns for investors willing to take on more risk.
• Flexible terms to align with your investment horizon.

How Do Term Deposits Work?

When you open a Term Deposit, you agree to deposit a fixed amount of money for a specific period. During this time, you will not be able to withdraw the money, but you will earn interest on it. At the end of the term, you can either withdraw your funds with the interest earned or roll over the deposit into a new term.

Benefits of Term Deposits

• Safety: Term Deposits are low-risk and insured, meaning your principal is protected.
• Predictability: Fixed interest rates provide stability and predictable returns.
• Simple Investment: Easy to set up and manage, making them ideal for both new and experienced investors.
• No Fees: There are typically no fees associated with Term Deposits, making them a cost-effective option for growing your savings.

How to Open a Term Deposit

Opening a Term Deposit with Newfoundland and Labrador Bank is simple. Visit your nearest branch or apply online, where you can choose the term length and interest rate that best suits your investment goals. Our financial advisors will guide you through the process and help you choose the right Term Deposit for your needs.

Secure your financial future with a **Term Deposit** at Newfoundland and Labrador Bank. Start earning guaranteed returns today!