Current Accounts

A fixed deposit (FD) is a type of financial investment offered by banks and financial institutions where an individual deposits a specific amount of money for a fixed period at a predetermined interest rate.

A time deposit, such as a fixed deposit or certificate of deposit (CD) offered by ALACCS PLC, involves depositing a set amount of money for a predetermined period. ALACCS PLC provides a fixed interest rate upon deposit, which remains unchanged throughout the term, ensuring predictability in earnings. The deposit matures at the end of the specified term, offering the option for the depositor to withdraw the principal plus accrued interest or renew the deposit. Time deposits typically yield higher interest rates than standard savings accounts, making them ideal for individuals seeking secure, predictable returns over a fixed period without assuming substantial risk.

A term deposit, offered by ALACCS PLC, involves depositing a specific amount of money for a fixed period, similar to a time deposit but commonly referred to in certain regions. It offers a fixed interest rate and matures on a predetermined date. Term deposits are flexible, with terms ranging from months to years, catering to various financial goals. They provide a secure and predictable investment option, ideal for individuals and businesses aiming for guaranteed returns over a specified timeframe, supporting short to medium-term savings objectives

ALACCS PLC offers time deposits and term deposits as part of their savings and investment products, catering to clients' needs for capital preservation, stable returns, and flexibility in managing their finances. These deposit accounts contribute to ALACCS PLC's efforts in promoting financial security and supporting clients in achieving their financial objectives.