Time deposits usually have a fixed term. If you withdraw your time deposit in advance, you will lose interest income. Smart deposits can be accessed at any time, even through channels such as mobile banking, which is more flexible and convenient.

The interest rate of time deposits is usually set by banks according to national policies and market conditions, while the interest rate of smart deposits is determined by the relationship between market supply and demand, so it is more market-oriented and can better reflect the relationship between supply and demand of funds.