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Term Deposit Accounts

A term deposit also known as fixed deposit is a scheme that locks in a specified amount of funds for a fixed period of time. These funds can be fixed for a tenor ranging from 3 months upto 10 years. In case of term deposit, depositor needs to maintain a current or savings account with the bank and can access the funds through that account. As the funds are fixed, no cheque book or debit card is issued against a term deposit account.

The Term Deposit is considered as a safe form of investment and is therefore appealing investors with low risk appetites. Term deposits offer a higher rate of return to the depositor as the funds are fixed or tied up for a specified period of time. Encashment of the deposit before the maturity of the tenor may in certain cases result in a penalty /charges for the customer.

Fair Treatment to Customers

For HBL TermDeposits profit payment is applicable. However, it must be mentioned that the Term Deposits must be booked from an existing Current or Saving Account. Details are available at all branches and a copy of Schedule of Bank Charges (SOBC) is also provided in the welcome pack of the account.