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Can you lodge money - at any time - to a fixed term deposit account?

  • 22-07-2009 3:46pm
    #1
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭


    Hello all

    Apologies if this is a silly question, but if I open a fixed term deposit account, you know, the sort of one where I can't withdraw funds from it for 12 months, can I continue to lodge money to this account (i.e. treat it like a regular savings account), or am I only allowed make make one initial lodgement?

    Thanks. :)


Comments

  • #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Depends on the account and the institution. Who/what did you have in mind?


  • #3
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    Investec. Cheers!


  • #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    I'm not familiar with their accounts. :( In my experience with the fixed term accounts it's usually ok to lodge, just have to wait to withdraw. However, if this is a particularly high interest account, there might be a cap on how much/how often you lodge. I had a look on their website, and the impression I got is that you probably would be able to lodge, a lot of the ads usually specify 'single lodgement only' or similar. (I'm assuming you're looking at the 4% one?) I think for full terms and conditions you need to ring them.


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