Fixed deposit FAQ

Plain answers to common questions about fixed deposits and savings accounts. General information only, not financial advice.

Are fixed deposits insured?

In most countries, yes, up to a limit per depositor per bank: for example FDIC US$250,000 in the United States, FSCS £120,000 in the UK, €100,000 across the EU, SDIC S$100,000 in Singapore and DICGC ₹5 lakh in India. Each country page states its scheme and limit with a link to the official source. Foreign-currency deposits and investment products are often not covered, and a few countries have no general scheme.

What does "fresh funds" mean?

Fresh funds are money that is new to the bank: transferred in from another bank, not moved from an account you already hold with them. Many promotional rates are for fresh funds only. Each bank defines it in its terms, sometimes using your balance on a reference date, so check the definition before you transfer.

What is the difference between a promotional rate and a board rate?

A board rate is the bank's standing published rate for each tenure and amount. A promotional rate is a time-limited offer, usually higher, often with a minimum deposit, a fresh-funds rule or an online-only channel. When a promotional deposit matures, many banks renew it at the board rate unless you give other instructions.

Can I withdraw a fixed deposit early?

Usually yes, but you may lose some or all of the interest, and some banks charge a fee. The rules differ by bank and are in each bank's terms. Only lock away money you will not need before the deposit matures.

Is deposit interest taxed?

It depends on the country and your situation. For example, Singapore does not tax interest individuals earn on deposits with approved banks, while the US, UK and India tax it as income (with allowances in some countries). Check your tax authority's guidance; we only show rates before tax.

Fixed deposit, T-bill or government savings bond: which is better?

They suit different needs. A fixed deposit gives a known rate for a fixed term and is usually covered by deposit insurance up to the local limit. Treasury bills are short government securities sold by auction. Government savings products (such as Singapore Savings Bonds, NS&I in the UK or Livret A in France) are backed by the state and have their own rules. Each country page shows the latest official figures as a reference point, not a recommendation.

Why is a bank shown as "check bank site"?

Our software could not read that bank's page cleanly today (for example, the page changed or a security check blocked it). Rather than show an old or estimated figure, we link you to the bank's own page. Figures verified within the last 48 hours stay up with a "Not re-verified today" label.

How often are the rates updated?

Every bank page is read once a day, and every rate carries the time it was last verified. Banks can change promotions at any time, sometimes more than once a week, so always confirm on the bank's page before you deposit.

Do banks pay to be listed or ranked higher?

No. Offers are sorted purely by rate. If we join an affiliate or referral programme in future, those links will be marked and will never change the order.