The Term Deposits Module allows your students to earn higher rates of interest through locking away their funds for a specified period of time. It naturally builds on what your students have learnt through the Interest on Savings module.

Breaking Term Deposits

If a student breaks their term deposit early they will not receive the interest associated with that term deposit; instead they will be paid the interest associated with their Savings Account. They will also be charged a break early fee.

Tip: When choosing the $ amount for the break early fee, it needs to be lower than minimum term deposit. If you can not save changes, you may need to revisit the values you have chosen. 

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