time deposit definition

time deposit

Depository institution (such as a bank, credit union, or a finance or insurance company) account that pays higher than savings account interest rates but imposes conditions on the amount, frequency, and/or period of withdrawals. A certificate of deposit (CD) is normally issued only for time deposits. Also called fixed deposit.

time deposit is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

time deposit appears in the definitions of the following terms: commercial finance company, credit union, cost of capital, certificate of deposit (CD), fixed deposit, notice account, savings certificate, early withdrawal penalty, cost of money, effective annual return and

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