What is deposit savings?
By deposit saving we mean a type of savings where you put your savings for a predetermined period in a savings account at a previously agreed (fixed) interest payment. You cannot get the money in the meantime or you often have to pay high costs. The rule of thumb usually applies that the interest payment increases as the term of the deposit increases.
Key features of deposit savings
We have listed the most important properties of deposit savings below:
- there is a fixed interest rate;
- there is a fixed term;
- the money can often not be withdrawn in the meantime or only at great expense;
- the amount of the interest payment depends on the term of the deposit (usually the interest rate increase increases as the term gets longer).
The highest savings rates for term deposit savings
Top 10 savings rates of all types of savings
Complete overview of savings options