Fixed Term Deposits have two important advantages over most investment opportunities: low risk and no surprises! That's because everything is fixed in advance: the amount you invest, the length of time it's invested and the rate of interest that's applied. Nothing's left to chance.

The benefits are clear:

• Higher rates of interest - by investing your money for a set period you earn more interest than if you maintained it in a current or savings account.
• Safe and secure - on the day you place your deposit you will know exactly how much it will be worth when the fixed period ends.

Choosing a Fixed Term Deposit

The following minimum amounts are required for initial investments:

• KYD 1,000
• USD 5,000
• CAD 5,000
• GBP 5,000
• EUR 5,000

We also offer deposits in other currencies. Please call (345) 949 7055 for further information.

Once you've chosen the currency an amount that's right for you, you then need to decide on the length of the 'fixed term'. Terms are typically between one week to 12 months. For KYD and USD deposits the period can be up to three years.

If you wish to add or withdraw funds during the set period, administration and other fees may apply.  However, if you wish to renew or amend the deposit at the end of the fixed period, you can do so free of charge if you provide at least two working days' notice. There is no minimum amount restriction for adding or withdrawing funds.

If you simply want your funds repaid at the end of the fixed period this can be done either by crediting your Butterfield account, or by paying you or a specified beneficiary by bank draft or wire transfer.