What is a term deposit?
A safe and guaranteed investment: you know, to the nearest penny, just how much you will have built up by the time your deposit matures.
A term deposit allows you to invest your money:
- for a predetermined period of time;
- at a predetermined fixed rate of interest;
- free of all charges (unless redeemed early).
A term deposit allows you to benefit from the best rates on the money market in return for being obliged to block your money for the term of the deposit.
What term periods can I choose from for my term deposit?
You can choose the term period that best suits your needs. The term periods generally available are:
- 1 month
- 2 months
- 3 months
- 6 months
- Or 12 months
Which currencies are available for my term deposit?
At ING Luxembourg, term deposits are available in nine currencies:
- Euro (EUR)
- Swiss franc (CHF)
- Pounds sterling (GBP)
- Danish krone (DKK)
- US dollar (USD)
- Canadian dollar (CAD)
- Australian dollar (AUD)
- New Zealand dollar (NZD)
- Japanese yen (JPY)
The interest on term deposits is fixed daily, based on the money market trends for the specific currency over the period of time concerned. The rates are also commensurate with the sum deposited. The resulting rate will be fixed for the full term of your deposit. The minimum deposit is 25,000 euros, or the equivalent value, to ensure that you get the most advantageous rate.
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