Can anyone help with explaining how these accounts work. If you state time of 6 months, at the end of the 6 months do you have to close and reopen a new account? Is the interest paid monthly into a current account?
Sarki, it's really quite simple.If for instance you want your your Time Deposit to run for 6 months then you must be there on the date it matures.ıf you are not then the bank will re invest it for another 6 months.no they do not put the interest into your current account.you have to be there and tell them to do this.Hope this helps.
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