määräaikaistalletus

Määräaikaistalletus, often translated as a fixed-term deposit or certificate of deposit, is a type of savings account offered by financial institutions. In this type of deposit, a customer agrees to leave a sum of money untouched for a predetermined period, known as the term. In return for this commitment, the bank typically offers a higher interest rate compared to a standard savings or checking account.

The interest rate on a määräaikaistalletus is usually fixed for the entire duration of the term, providing predictability for the depositor. Terms can vary significantly, ranging from a few months to several years. Early withdrawal of funds is generally permitted, but doing so often results in a penalty, such as a forfeiture of accrued interest or a reduced interest rate.

Määräaikaistalletus accounts are considered a relatively safe investment, as they are often insured by government deposit insurance schemes up to a certain limit. They are suitable for individuals who do not anticipate needing immediate access to their funds and are looking for a secure way to earn a modest return on their savings. The principal amount deposited is typically guaranteed.