The Difference Between Time Deposits and Regular Savings

Both are ways to keep money safe, but they suit different purposes and time horizons.

Key Points

• Regular savings can be deposited and withdrawn at any time for daily needs.
• Time deposits are held for a fixed tenor, such as 3, 6, or 12 months.
• Time deposits usually offer higher interest than regular savings.
• Withdrawing a time deposit early may be subject to the bank's terms.

Choose based on when you will need the money.

Note: this article is dummy demo content and is not professional advice.