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  Funds Management
Fund Management
Fixed/Time Deposit
Treasury Bills
Prudential Securities Ltd.

you are here: Funds Management >> Fixed/Time Deposit

A time deposit (also known as a term or fixed deposit), as the name suggests, is a money deposit at a banking institution that cannot be withdrawn until the expiry of a certain "term" or period of time. The deposit can be for a period of 30-days, 60-days, 91-days or 365-days depending on the depositors need. On maturity (ie.When the term is over), the following options are available to the depositor:

 

Rollover with Interest

With this option, the initial deposit, together with the accrued interest thereon is taken as a new deposit and rolled over for another term.

 

Rollover without Interest

With this option, the initial deposit is rolled over for another term whilst the accrued interest is either credited to a specified account by the depositor or given to the depositor in the form of a cheque.

 

No Rollover

With this option, both the initial principal and the accrued interest thereon are either credited to a specified account by the depositor or given back to the depositor in the form of a cheque.

 

At PBL, add-ons are allowed on the Time deposit whereby the depositor is allowed to add onto the initial deposit before maturity.

 

Apart from the local currency, Time deposits may be held in local or foreign currencies (Dollar, Pound Sterling or Euro).

 

The Bank can design the Time Deposit to fit a depositor’s specification.

 

For Walk-in Depositors, the Bank requires a valid photo ID, a recent passport sized photograph and a duly completed KYC form.

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1st Quarter 2018 Financial Statement

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