Banky team Reviewed editorial answerA deposit can be suitable for the amount you'll need in the near future if its term aligns with when you'll need liquidity.
Key points
Its advantage is that you can choose a specific term, but early withdrawal may reduce the return.
Compare it to a savings account or short-term certificate in terms of net return and flexibility; don't tie up your immediate expenses just because of a small difference in the interest rate.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.