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time deposit Definition

☆ time deposit

time deposit Finance Definition
A deposit account that has a set time until it matures, at which time the funds can be accessed. Exceptions do exist that allow the funds to be accessed before the account matures, typically with the payment of a penalty.
time deposit Usage Examples

Adjective modifier

  • only: Only time deposits with min. one year maturity Can take current, recurring, savings and time deposits 12.