Bank deposit rates: where can you earn the highest rate?

A deposit generally involves placing an existing sum of money for a period and under terms set in advance. A savings plan may include recurring deposits and a longer-term structure. In either case, it is important to check the interest rate, liquidity, and withdrawal terms.

With a fixed rate, you know the interest rate in advance. With a CPI-linked deposit, the outcome is affected by changes in the Consumer Price Index. The choice depends on the term, the conditions, and the level of certainty you are seeking.

For a fixed-rate deposit, the rate is set in advance. For a variable-rate deposit, it may change according to the benchmark and the terms specified in the agreement.

A relatively liquid deposit that generally allows frequent withdrawals. In exchange for that liquidity, its interest rate may be lower than the rate on a deposit locked in for a fixed term.

No. A deposit is a banking product governed by contractual terms; it is not a security traded on the capital market.

That depends on the deposit's terms. Early withdrawal may not be permitted, or it may reduce the interest and be subject to additional conditions. Check this before making the deposit.

Yes. Splitting the money among different terms or maturity dates can improve flexibility, provided that you review the terms and interest rate of each deposit separately.

Yes. Especially for larger amounts, it is worth comparing banks and showing your bank competing offers before opening a deposit.

Yes. Tax is generally deducted from the interest. The tax rate depends on the type of deposit and whether it is index-linked; for an unlinked shekel deposit, it is generally 15% of the nominal interest. You should check the current law and the specific terms of your product.