What are Certificates of Deposits “CDs” & Term Deposits “TDs”?
CDs and TDS are saving instruments that are offered by most banks, whereby you deposit a certain sum of money with the bank for a specific period and they pay you an agreed upon interest rate.
What is the difference between Certificates of Deposits “CDs” & Term Deposits “TDs”?
While CDs & TDs seem to be different instruments, they are actually the same thing. CDs typically refer to deposits with a period of greater than one year while TDS to deposits with a period of less than one year.
What are the main factors to consider when researching CDs & TDs?
There are a few factors you need to decide on before you start comparing between different CDs & TDs. Namely:
What do I need to apply for a Saving Deposit?
Generally, you only need two things:
How do I apply for a CD or TD?
Currently you apply for a CD or TD by either calling the call center of your bank or visiting a branch, a loan officer will take you through the process. To make sure you have an efficient process make sure to visit our Save Deposits page(https://www.faydety.com/save/deposits) to make sure you are eligible and have the required documentation ready.
APPLY ONLINE: Soon Faydety will enable you to apply to save deposits from the comfort of your own home, office, or even coffee shop. If you are interested in this service, please click on this link and we’ll notify you as soon as it's available.
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