Unlike Flexible Savings, which allow you to withdraw or exchange your assets anytime, Fixed-term Savings allow you to lock your digital assets for a predefined period to earn bonus interest. Assets in Fixed-term Savings cannot serve as collateral or be used for loan repayment until the term unlocks.

You will receive all interest earned for the duration of the term in a single payout at the end of the period, regardless of your payout preference (in kind or in NEXO Token).

To create a term, follow the steps below.

1. Open the ‘Savings Hub’ on the Nexo app dashboard.
2. Navigate to the ‘Fixed-term Savings’ tab.
3. Tap 'Create a term' and choose an asset.
4. Enter the amount you want to move to a term and confirm.

You can read more about earning interest on Nexo here.

With automatic renewal, your term is prolonged for the same period once the interest payout is completed. This way you continue to earn additional interest without any interruptions. When your term renews automatically, by default, only the principal amount will be relocked, whereas the accrued interest will be added to your Savings Wallet.

To benefit from automatic renewal you need to enable the option when creating a term for your assets.

You can choose to relock both the principal and the accrued in-kind interest during automatic term renewal to achieve a compounding effect. To enable this option:

1. Open ‘My profile’ on the Nexo app.
2. Go to ‘Settings’ and choose ‘Savings interest preferences’.
3. Enable ‘Renewal with interest’.

Once enabled, the feature will affect all your current and future terms.