määräaikaistalletuksilla

Määräaikaistalletus, often translated as fixed-term deposit, is a savings account offered by financial institutions where a customer deposits a sum of money for a predetermined period. During this period, the funds are locked and typically cannot be withdrawn without penalty. In return for this commitment, the bank usually offers a higher interest rate compared to a regular savings account.

The interest rate on a määräaikaistalletus is agreed upon at the time of opening the account and remains fixed for the entire term. Terms can vary significantly, ranging from a few months to several years. Upon maturity, the customer can withdraw the principal amount along with the accrued interest. Some institutions may offer options for automatic renewal of the deposit, with the interest rate adjusted to current market conditions.

Määräaikaistalletukset are considered a relatively safe investment as they are typically protected by deposit insurance schemes, up to a certain limit. They are suitable for individuals who have a specific savings goal and do not need immediate access to their funds. The predictability of returns makes them a useful tool for financial planning, especially for short to medium-term objectives. However, the lack of liquidity is a key consideration.