How do Fixed terms work?

LIQD has pioneered a range of flexible and fixed saving terms enabling you to achieve higher interest rates on your savings by committing funds to a longer period. Similar to a notice savings bank account, fixed terms means that you subscribe your funds for a product and earn daily interest on the amount. 

The funds will be allocated to the product on a rolling basis and only returned to your available balance after you have clicked the redeem button on the EARN product page and then a countdown number of days starts to run. You can check the remaining time in your liqd dashboard under the 'fixed terms' page. 

When the countdown reaches zero then the subscribed amount will be returned to your available SPEND balance, from where you can decide to withdraw it or enter another EARN product.

For example if you have a sum of €10,000 in your spend balance you can subscribe this to a fixed term product with one month notice period. After subscription the interest will start to accumulate daily on your subscribed balance, if you wish to redeem your funds and exit the product then you click the redeem button and a countdown timer will be shown. Interest continues to be accumulated until your funds are returned to your balance at the end of the notice period.

It is not possible to exit the product early or to withdraw your funds from a fixed term without waiting for the notice period, however we are designing some updates which may enable more flexibility to be offered in the future.

You can enjoy the highest rates of interest by entering the longer term products that are available on the LIQD dashboard, please check the available offers and be aware that the interest rates can change at any time (but amounts subscribed to fixed term products will continue to receive the full interest rate advertised at the point of subscribing.)