How is the USD Cash Yield portfolio different from fixed deposits?

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There are a few key differences between a classic fixed deposit account at a bank and a USD Cash Yield portfolio. | Fixed deposit | USD Cash Yield Portfolio Description | An account opened at a bank that pays a guaranteed interest rate after a stipulated time period. | A portfolio that invests into short-dated US Treasury Bills. The rate | You lock a guaranteed rate. | The rate is a projection and moves along with US Treasury Bill rates. Lock-in period | Varies from 3 to 12 months on average. | None Minimum amount | Usually requires $20,000+ of new funds to earn preferential interest rate | None Deposit insurance | Insured under Hong Kong’s Deposit Protection Scheme for up to $500,000 HKD per depositor per scheme member. | Uninsured

	Fixed deposit	USD Cash Yield Portfolio
Description	An account opened at a bank that pays a guaranteed interest rate after a stipulated time period.	A portfolio that invests into short-dated US Treasury Bills.
The rate	You lock a guaranteed rate.	The rate is a projection and moves along with US Treasury Bill rates.
Lock-in period	Varies from 3 to 12 months on average.	None
Minimum amount	Usually requires $20,000+ of new funds to earn preferential interest rate	None
Deposit insurance	Insured under Hong Kong’s Deposit Protection Scheme for up to $500,000 HKD per depositor per scheme member.	Uninsured