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You will need to have an ANEXT Business Account before you can place an ANEXT Fixed Deposit. Each business can open only one ANEXT Fixed Deposit account but multiple placements can be made under the same ANEXT Fixed Deposit account.


If you have an ANEXT Business Account

Step 1: Log in to Online Banking.
Step 2: Navigate to the ‘Fixed Deposit Account’ on your dashboard to get started.

 

If you don’t have an ANEXT Business Account

Step 1: Apply for an ANEXT Fixed Deposit Account. A free ANEXT Fixed Deposit Account and a free ANEXT Business Account will be opened for your entity as part of this application.
Step 2: Login to Online Banking and deposit your desired amount into your newly opened ANEXT Business Account. From your Account Overview dashboard, click on the Fixed Deposit tab to place a fixed deposit – the funds will be drawn from your ANEXT Business Account.

There are no fees to keep your ANEXT Fixed Deposit account to make placements anytime you are ready to.

You can place multiple fixed deposits in EUR, SGD and/or USD with a minimum amount of EUR 5,000, S$250,000 or US$5,000 respectively. However, each placement must not exceed a maximum of $10,000,000 in its respective currency.

You can choose from a placement tenure of 1, 3, 6, 9, 12 months.

During the fixed deposit placement process, you will be able to view the interest rate as well as the estimated total interest earned during the tenure. Details of all your placed fixed deposits can also be viewed any time after placement via Online Banking.

You can set your maturity instructions when you place the fixed deposit. There are 3 options which you can choose from:

 

  1. Renew principal – The principal amount will be used to create a new fixed deposit placement for the same tenure as your original placement. 
  2. Renew principal and interest – The entire balance (your original deposit amount and the interest you have earned) will be used to create a new fixed deposit for the same tenure as your original deposit. 
  3. Withdraw principal and interest – The entire balance (your original deposit amount and the interest you have earned) will be transferred to your ANEXT Business Account.

 

Maturity instructions of your fixed deposit(s) can be changed anytime during the tenure up till 1 working day before the maturity date. Note that the instructions will automatically be implemented at the prevailing interest rate (for renewals) according to the instructions selected, upon maturity of your initial placement.

 

To view and edit your maturity instructions, log in to Online Banking and navigate to Fixed Deposit Account on the home page > View Details.

 

Renewals (if selected) will be placed at the prevailing rate at the time of renewal. You may change maturity instructions up to 1 working day before maturity. If you choose to withdraw instead of renewing, any interest payable will be in accordance with the product terms (see early withdrawal).

Yes, you can withdraw a fixed deposit placement up to 1 working day before maturity. E.g. If the maturity date is 30 June, the last date you can make an early withdrawal is on 29 June. However if the maturity date falls on a Sunday, the last day that you can make a withdrawal is on Friday of that same week. We will not charge early withdrawal fees, but do note that you may earn lesser, or no interest, if you perform an early withdrawal. Any interest (if applicable) will be computed in accordance with the fixed deposit terms and the prevailing rates shown in Online Banking.

 

You will not earn fixed deposit interest when your placement is withdrawn prematurely, however you will instead earn daily interest from the date of placement till the date of early withdrawal, based on the prevailing ANEXT Business Account daily interest rate.

 

To make a withdrawal, log in to Online Banking and navigate to the fixed deposit tab found within your ANEXT Fixed Deposit account dashboard. Click on ‘Withdraw’ to proceed.