Cumulative bank deposits normally mature in five years and the interest is compounded. The other advantage is that even when banks announce decrease in bank interest rates cumulative deposit interest rates stay put.
I have several such deposits. They are also called term deposits where the capital is exempt from tax.
What are your methods to increase your savings?
I have several such deposits. They are also called term deposits where the capital is exempt from tax.
What are your methods to increase your savings?