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Butterfield Term Deposit Accounts
 
 

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Deposit & Cash Management

Butterfield Term Deposit Accounts
Term Deposit accounts are also known as “fixed” or “time” deposits. A term deposit account is an investment product designed for the customer who wants a higher rate of interest than is available on savings. The amount invested (Principal), and the Time (Period) are fixed. Partial withdrawals are not allowed and early redemption of the deposit is subject to a penalty.

 

Main Features 

  • Long term fixed savings accounts
  • Minimum Deposit of BBD$10,000.00
  • Interest payments may be made periodically
  • Early redemption penalty of 2% less interest rate than the agreed rate at the time the deposit was opened.
  • Interest rates are tiered between 2.25%-2.75%
  • Minimum term of one(1) year
  • Automatic renewal on maturity, at prevailing rate, unless notified prior to maturity date 


 

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