In the current context, characterized by significant inflation due to rising prices, the rise in post-pandemic energy prices and the consequences of wars, term accounts are the subject of growing interest as as a financial protection tool.
THE restricted current account represents a shape investment specification when the deposited funds are not available for withdrawal before the expiration of the blocking period set by the holder.
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This tool offers the possibility of make savings profitable over timewith additional interest accrual compared to a free deposit account.
L'Accumulated interest is generally credited at maturity of constraint or on a pre-established basis, for example quarterly or half-yearly.
Respect to free deposit accountsthose linked generally offer a a higher interest rate and lower riskbecause the funds are tied up for a period which can vary from short (for example one month) to long term (up to five years).
Some banking offers include releasable deposit accountswhich allow the owner to remove the time restriction on the deposited funds, thus making them available again.
There Removal of the deposit may result in a penalty or be free, according to the terms of the contract. Once released, the funds can be withdrawn, transferred to the main checking account or returned to bail.
Below are the three main benefits of opening this type of account, namely low percentage riskthe opening No chargeand management via apps and mobile devices.
Protect capital and a low percentage of risk
In the current socio-economic context, one of the most interesting advantages among those offered by the term account is its validity as a solution to protect capitalwhile guaranteeing a modest return on the amounts deposited.
L'absence of associated risks when opening a term account is due to the insurance provided by banks on this type of product.
Considering the deposit account as a safe backup methodthis option is interesting for those who wish to make additional liquidity available in their current account, thus mitigating the effects of inflation on purchasing power staff.
Zero expenses
The deposit account represents a practical investment even considering the costs and the expenses associated with it, which are practically absent. In fact, there are no opening fees for a term account, nor monthly fees required for its maintenance.
It's about a zero cost solution, flexible and accessible directly online. Opening a savings account is a very simple and free process, which can be done online in just a few steps.
Management via app and mobile devices
Most banks offer a online banking service. It allows you to easily manage your account via the web, access it at any time of the day or night, 24 hours a day, and operate with simplicity, speed and maximum security.
The system offers various functions that simplify account management and monitoringallowing users to personalize the experience according to their needs.
You can rearrange main apps and information, create budgets and spending categories, update the address book and select frequent operations to execute them more quickly in the future.
In addition, thanks to the online service, you have the possibility of quickly contact useful numbers in the event of technical problemscommercial information or to request card blocking if necessary.
