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An expression deposit are a discount product that also provides savers an excellent fixed interest rate to have a set time frame. This type of account give an alternative choice to regular offers account, allowing you to place your money away and you will secure an ensured come back. To have 2023, the brand new OTR decreased to 62.cuatro %, a change from 30 basis items than the 62.7 percent peak in the 2022.