What is Term?

A term is the period you commit a fixed deposit to. The money stays put, you usually cannot take it out early without a penalty, and in return the bank pays a rate it knows for the whole period. Lengths differ a lot: Addiko Bank Crna Gora runs terms of 1 to 36, Addiko Bank Srbija runs 3 to 36 and ABB Bank runs 3 to 36, while AIB Benin and Alatau City Bank use shorter windows of 12 and up to 12.