Open Time Deposit (TD) on your Tonik App dashboard and select the TD you want to roll over from your existing list of TDs. Toggle the “Roll over time deposit” button to the right found under the details of your Time Deposit.

 

After toggling the button, you’ll see a pop-up message that explains how the rollover works. You must tap the “I accept the Terms and Conditions” which will enable the Roll over this time deposit button. Make sure to read the Terms and Conditions, luv! Press to see the full T&Cs so you know the implications of rolling over your TD.

The length of the rollover will be the same as the original Time Deposit (TD). 

 

If you have opened a 6 months TD, if you activate Roll Over, your TD will be extended for another 6 months. Similarly, if you have opened a 18 months TD, if you activate Rollover, your TD will be extended for another 18 months. 

The investment amount cannot be changed, luv. If you want to change the investment amount, you can open a new Time Deposit instead.

For now, Tonik only allows rolling over the investment amount of your Time Deposit (TD). The interest earned will be transferred automatically to your Tonik Account on the rollover date.

When you roll over your Time Deposit (TD), you're extending the term your money is placed in that TD account. The term you initially chose will be the same term your TD will follow once it has rolled over. For example, if you initially chose a 6 months Time Deposit and decided to rollover, you will have a new term of 6 months, and will continue to renew every 6 months until you deactivate the time deposit roll over button. The rate that you will get for the new term of your Time Deposit (TD) will depend on the rate that is in effect on the rollover date. For example, if Tonik still offers the 6% interest rate for TDs, then your existing TD that's earning 6% interest rate will continue earning the same interest rate. But if the new interest rate becomes 4%, then your TD rollover will earn the new 4% interest rate.

You will receive it within 24 hours of your Time Deposit rollover.

You will receive it within 24 hours of your Time Deposit early withdrawal.

You will receive it within 24 hours of your Time Deposit maturity.

You will receive it within 24 hours from your Time Deposit creation.