Looking for a way to ensure you’re money is working hard for you?
Term Investments (also called Term Deposits):
In a nutshell, you choose the best term (how long you can or want to lock your money away for) and in return, SBS will confirm the interest rate for that term so you know from the start the return (extra money) you will earn. For example, with an interest at maturity term investment, at the end of the term, such as 12 months, you will get your original amount invested back (called your principal) along with an extra amount (called the interest) that you have earned. If you would prefer to earn income from your investment along the way (rather than at the end) a term investment with interest paid monthly or quarterly might be an option for you. You still get your original amount (principal) back at the end of the term, but instead of waiting until the end of the term for your interest, it will be paid out to you at regular intervals.