CPF Time Deposit

You can leave it as a default if you feel the interest rate is better than what CPF could provide. However, given that interest rates can fluctuate over quarters. It may be wise to review it once every quarter or half a year, depending on your available time, and at least a week to a month before maturity date so that you have enough time to execute a withdrawal if you so wish.

​

An autorenewal just means a new FD will be given once the current FD is matured.