I want to close my Time Deposit after the cooling off period. What will I get and how is it calculated?
You will earn Tonik Account interest from the date you open your Time Deposit until your early withdrawal date, but you will be charged for Documentary Stamp Tax. Please keep in mind that you may receive less than your original investment amount (You’ll certainly get less than what you could have got if you wait until maturity)
Interest will be based on the number of days your money is stored in that Time Deposit. Withholding tax will be applied to this interest.
What you receive = investment amount + interest (based on Tonik Account interest) – withholding tax – Documentary Stamp Tax.