Fixed Time Deposit, sometimes named as Fixed Deposit, is a type of saving where individuals, associations and government and non-governmental organizations save money for a definite period of time (days, months, years) in order to get better interest rate, as agreed by both parties or as per MFI’s policy.  Fixed time deposit saving product serves any individual, groups or institutions, borrowers & non-borrower clients.  The interest payment on the fixed time deposit varies based on the amount of deposit and length of the time contracted with the institution.  Initial saving amount is higher than other saving types and it is required to be saved for longer periods (a year and above).  It is impossible to withdraw saved money through fixed time deposit system before the contracted time or maturity period by both parties. If withdrawn before the agreed period, interest rate will be down to 7%.  At the end, the depository shall, at any time at the written direction of Adeday Microfinance, terminate the deposit agreement by mailing notice of such termination to the holders of all receipts then outstanding at least 30 days prior to the date fixed in such notice for such termination. Product Boundaries Saving type: Voluntary Age range of clients: 18 yrs and above Minimum opening balance: Br. 100,000 Maintainable threshold balance: Br. 25 Interest rates: 10% to 12%