Tähtajalisi

Tähtajalisi is an Estonian term that translates to "term deposits" or "fixed-term deposits" in English. It refers to a type of savings account where a customer agrees to deposit a sum of money for a specific, predetermined period, known as the term. In return for committing their funds for this duration, the customer typically receives a higher interest rate than they would on a standard, easily accessible savings account.

The duration of a tähtajaline can vary widely, ranging from a few months to several years. Common terms include three months, six months, one year, or even longer. The interest rate offered is usually fixed for the entire term, providing predictability for the depositor's earnings. However, withdrawing funds before the agreed-upon term expires often results in a penalty, which can include forfeiture of accrued interest or a reduced interest rate.

These deposits are a popular savings instrument for individuals and businesses looking to earn a guaranteed return on their money over a defined period, without the risk associated with investments like stocks or bonds. They are considered a relatively safe option for preserving capital while generating modest interest income. Banks offer tähtajalisi to secure stable funding for their lending activities.