Term Deposit
Term Deposit is a fixed deposit account for 1 year. Rate is generally higher than bank rate. Minimum fresh fund deposit is $500 subject to a maximum of $50,000 (Refer to the table below). Internal fund transfer is allowed up to a maximum of $150,000.
Maximum Amount Allowed in the Account for Fresh Fund Deposit
| Length of Membership | Fresh Fund Deposit |
| 1st year of membership | Maximum $10,000 |
| 2nd year of membership | Maximum $20,000 |
| 3rd year of membership | Maximum $30,000 |
| 4th year of membership | Maximum $40,000 |
| 5th year and above | Maximum $50,000 |
Unless otherwise instructed, deposits together with accrued interest will be automatically renewed for a further period of 1 year with interest rate determined by the Society at the time of renewal.
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