A fixed term investment, also known as a fixed term deposit, is when you put your money into an account, long or short term, and you cannot touch the money for a determined amount of time. Because your money is ‘locked away’, your interest rate is generally higher but it is also fixed. It is not going to go up and it is not going to go down. This means your fixed term investment is a safe investment. Even if the interest rates dip, your investment will keep growing.
There are several kinds of fixed term investment accounts available and you would need to sit with your banker, or financial investor, and choose the account that is suitable for you. Read More