These Are the Best Fixed Deposit Rates Anywhere In T&T

It’s not often you see a good return on savings or fixed deposits in T&T but this offer from DFL is different. And I’ll give you the details in a minute.

But first, if you have money in a fixed deposit now you should check when it’s maturing so you’ll be ready to take advantage of the absolute best savings deal in the country.

Now, let me share a bit about why we are making this offer available to you in the first place (besides the fact that, unlike your bank, we actually want to compete for your business).

In short, we’re on a mission to encourage more people to save.

The truth is, Trinis are not saving anything close to what they should be saving. They’re buying cars instead.

And yet, of all the financial tips you hear out there—and we’ve heard them all—saving money is, undoubtedly, the most important one.

Your savings is your foundation. Build enough of a cushion and you’re ready to invest some of that money.

So to motivate more people to make a commitment to save we plan to be extremely competitive with the interest rates we offer on fixed deposits.

The earlier you start saving, the longer you let your money roll over, the better. You deserve a comfortable retirement.

You deserve the house you’ve always wanted.

You deserve to see your child go to the best university in the U.S. or Canada without worrying about how you will pay for it.

Or maybe all you want is the peace of mind knowing money is there when you need it.

For whatever reason.

Years ago you could put your hard-earned cash in a fixed deposit and watch interest rates work their magic.

This was before the big banks, with fewer investment opportunities, got so flush with extra cash. And before lending declined across the board causing interest rates to fall.

Now, with deposit interest rates averaging less than one percent for the past five years, your money is mostly just sitting there, ticking over.

Adjust those already miserable returns for headline inflation which averages 1.3 percent and the money in most fixed deposits isn’t making you nearly as much as you think.

It’s worse if you happen to be one of those poor souls who have their money tucked away in a regular savings account.

I regret to inform you that, given the rate of inflation—not to mention the fees you’re paying on these accounts—you’re essentially losing money here.

Which brings me back to this special offer on fixed deposits, because if you want to see higher returns on your money these days you’re going to have to think long and hard about where you save.

Here’s some free advice to start: If you have cash in a regular savings account that you don’t plan to touch inside a year you ought to move these funds to a fixed deposit the first chance you get.

But not just any fixed deposit. You’ll want to avoid the ones that only offer you meagre interest income.