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how to handle fixed deposit and structural deposit in Quicken?

unknown

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UKR

What do you mean by "structural deposit"?

Normally, one just types a transaction into the appropriate account register, with Payee Name and Categories as needed.

Please provide more details on what it is that you want to do.

volvogirl

If you get a fixed deposit each month you can set up a scheduled transaction or reminder to automatically enter it into your register.

NotACPA

Also, where are you located? Because I'm a retired banker in the US and I've not previously heard the term "structural deposit".
Likewise, please be more specific about what you mean by "fixed deposit" ... because it sounds like you may mean something other than "the same amount deposited into a bank account at recurring times".

unknown

I am in Singapore. No Fixed Deposit in the US?
What is a Fixed Deposit? Fixed deposit or time deposit accounts are basically investments that earn you interest over a fixed tenure. When you deposit that money, you can't withdraw it until the fixed tenure is over. Once it matures, you get back your initial deposit plus interest.

A Structured Deposit is the combination of a deposit and an investment product. The returns on a Structured Deposit may depend on the performance of the underlying investment product – market indices, equities, commodities, interest rates, fixed-income securities, foreign exchange rates, or a combination of these.

volvogirl

Oh a Fixed Deposit sounds like a CD Certificate of Deposit. Like you buy a 6 month or 1 year CD at a fixed rate. That’s a normal thing. Still don’t understand the structured thing.

Rocket J Squirrel

I am in Singapore. No Fixed Deposit in the US?
What is a Fixed Deposit? Fixed deposit or time deposit accounts are basically investments that earn you interest over a fixed tenure. When you deposit that money, you can't withdraw it until the fixed tenure is over. Once it matures, you get back your initial deposit plus interest.

A Structured Deposit is the combination of a deposit and an investment product. The returns on a Structured Deposit may depend on the performance of the underlying investment product – market indices, equities, commodities, interest rates, fixed-income securities, foreign exchange rates, or a combination of these.

Those terms are not used in the USA or in Quicken. The descriptions are so vague, they could be anything.

A fixed deposit could be a Certificate of Deposit (paper certificates are no longer used, but the name remains) or a bond. A zero-coupon bond, where you don’t get any interest until maturity, best matches the verbiage above.

A structured deposit sounds like a purchase of a security; the “deposit” goes to buy equities or other securities.

Have I guessed right, Oldman1881? If not, please add more detail about these account types.

Scooterlam

Hi,

Agree with the Fixed Deposit sounding like a CD, here is the USA. As far as the Structured Deposit, it also sounds like a CD but with a variable return due to the investment options that are available (ex. index investments). Both have lump sum contributions, fixed terms, preservation of principle guarantee, penalties for early withdrawal. The the fixed v. variable return seems to be a main difference, from what I read...

So it seems that these investments could be handled as "CD" in Quicken, perhaps? I'm not an investor in CDs and haven't used CDs in Quicken. Perhaps this will help: https://www.quicken.com/support/how-add-certificate-deposit-cd-quicken-security-list
I'm sure others (or the forum search) can give some best practices for handling CDs in Quicken.

Scott
2018 QW HBR r8.10

NotACPA

Whether the "Fixed Deposit" is a CD or a zero-coupon bond or a Treasury Bill would depend upon whether the instrument is initially bought at face value (CD or zero-coupon, at issue) or bought at a discount (E.G., you buy at $9,950 and 90 days later you get $10k).

T-Bills, and some zeros are issued by the US government, whereas a CD is issued by a bank. When bought at original issue (vs. the secondary market) CDs and zeros are almost always sold at face value.

A "Structured Deposit" is simply an investment, bought in an Investment account in Q. It sounds something like a variable annuity issued by various life insurance companies and banks.