Banking services / Term deposits
Term deposits provide a standard way for a customer to earn interest by locking down funds for longer periods of time. This allows your bank to reinvest those funds to earn income from which the deposit interest will be paid and the remaining earnings go to profit.
Importantly, term deposits can be packaged as products, thus allowing your customers to self-manage their investment by opening term deposits on-line with no need for back-office intervention.
A term deposit product can be invested in by your clients without back-office intervention.
To do this, you describe within Corniche the limits of the product – lowest amount which can be invested, minimum period of investment, and a range of interest rates applicable to whatever amount and period the client chooses.
There is no need to tie up valuable back-office resources to establish term deposits manually based on instructions made by email.
- True multiple currency
- Flexible interest settings
- Personal, Joint or Corporate accounts
- Variable term periods
- Self-management by customer