News Details

A fixed term deposit is like your wallet’s personal trainer

Apr 18, 2023

[Published by Times of Malta]

Saving money can be challenging, but it's an essential practice for achieving financial stability, freedom, and independence. Although we may strive to maintain control over our spending and saving habits, sometimes we need a little extra help. Fixed term deposits can act as your wallet's personal trainer, helping you reach your desired savings goals more efficiently.

One of the reasons why fixed term deposits are an excellent tool for savings is that they offer high interest rates. When you deposit your funds for a fixed term, you can earn attractive returns. A fixed term deposit is an account that allows you to deposit a specific amount of money for a predetermined period, typically ranging from a few months to several years. The interest rate is fixed for the entire term, so you know exactly how much you will earn on your deposit. By keeping your money in a fixed term deposit, you can earn higher interest rates than a regular savings account and reach your savings goals faster. Fixed term deposits provide a sense of security and enable you to diversify your portfolio. You can select the term that works best for you, and then choose to receive interest either quarterly, annually, or upon maturity.

When it comes to opening a fixed term deposit, selecting a trustworthy bank is crucial. Luckily, Easisave, an online savings platform created by FIMBank, is an excellent option that you can rely on. Easisave not only offers higher interest rates on Euro fixed term deposits but also provides superior customer service to ensure a smooth and hassle-free customer experience. With Easisave, you do not have to worry about visiting the bank, dealing with queues, or parking issues. You can easily open an account from the comfort of your own home and conveniently access your funds anytime, anywhere.

Another crucial aspect to consider is the safety of your funds. Easisave fixed term deposits are covered up to EUR 100,000 by the Depositor Compensation Scheme, ensuring peace of mind. Fixed term deposits are valuable tools for building wealth and achieving financial security. By saving smartly and working with a trusted banking partner, you can realise your savings goals more efficiently and reach your desired financial milestones. So, start working towards your goals today for a summer-ready wallet! Visit today.