TIMEDEPOSIT

Time deposit

A time deposit is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time . When the term is over it can be withdrawn or it can be held for another term. Generally speaking, the longer the term the better the yield on the money. In its strict sense, certificate deposit is different from that of time deposit in terms of its negotiability: CDs are negotiable and can be rediscounted when the holder needs some liquidity, while time deposits must be kept until maturity.

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time deposit

Noun

  1. a deposit in a bank that cannot be withdrawn before a specified date


The above text is a snippet from Wiktionary: time deposit
and as such is available under the Creative Commons Attribution/Share-Alike License.

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