If you’re about to rent a house or flat, put the security deposit in a security deposit savings account. By doing so, no-one can touch that money for the duration of the lease. When the lease ends, you can use our app to request the release of the funds, which we’ll do along with the interest they’ve earned. Landlords, too, can advise their tenants on opening this account.

Unlike savings accounts, your money is not available at any time on a time deposit account. You set aside your money for a certain period and in return, the interest rate on your time deposit account is generally higher than on your savings account. Therefore a time deposit account can be a good alternative to earn a little more from your savings.