High Interest Deposit Accounts

A high interest deposit account is an excellent way to accrue funds for fixed periods of time. In addition to high interest rates, a high interest deposit account provides a fixed income source for the beneficiary, since the interest rate is for a fixed term. This return guarantee is of significant interest to many investors. The following is an overview of the advantages and disadvantages of a high interest deposit account, and how Healy Consultants assists clients open them:

Some high interest deposit accounts severely limit access to funds during the fixed term of the deposit. To access funds under these circumstances, it may be necessary to i) provide written notice to the bank up to 100 days before you need the funds or ii) pay a heavy penalty charge for immediate access to funds.

High interest deposit accounts are available in the world’s major currencies, including US Dollars, UK Sterling, Euros, Hong Kong Dollars, Singapore Dollars, Australian Dollars and Japanese Yen.

On the other hand, the high interest deposit accounts offered by some banks require small initial deposits, and the account may be used as collateral to apply for low interest overdraft facilities. Keep in consideration that these terms differ from bank to bank, however. Healy Consultants will find a high interest deposit account and bank which best meet the needs of our clients.