What is term deposit (DAT) ?
The term deposit is an investment whose conditions of remuneration and immobilization are known at the time of the subscription. You choose the amount and duration of your investment based on your budget surpluses.
The term deposit account (or CAT) is a financial product. The investor makes a one-time payment, Blocked for a short or medium period of time.This amount will be paid by a predefined interest rate per contract. The deposit account is in conflict with the demand deposit account, ie the traditional current account on which deposits are freely usable at any time.
The opening of a term account is therefore a reciprocal engagement . On the one hand, the depositor agrees to immobilize his savings for the agreed duration. On the other hand, Benin Micro Finance rewards this loyalty with a remunerative interest rate.