time deposit

(redirected from Large-denomination time deposit)
Also found in: Dictionary, Thesaurus, Wikipedia.

Time deposit

Interest-bearing deposit at a savings institution that has a specific maturity. Related: Certificate of deposit.

Term Deposit

A deposit at a bank or other financial institution that has a fixed return (usually via an interest rate) and a set maturity. That is, the depositor does not have access to the funds until maturity; in exchange, he/she is usually entitled to a higher interest rate. One of the most common examples of a term deposit is a certificate of deposit. It is also called a time deposit. See also: Demand deposit.

time deposit

An interest-bearing savings deposit or certificate of deposit at a financial institution. Although the deposits formerly included only deposits with specific maturities (such as certificates of deposit), they now are considered to include virtually all savings-type deposits. Compare demand deposit.

Time deposit.

When you put money into a bank or savings and loan account with a fixed term, such as a certificate of deposit (CD), you are making a time deposit.

Time deposits may pay interest at a higher rate than demand deposit accounts, such as checking or money market accounts, from which you can withdraw at any time.

But if you withdraw from a time deposit account before the term ends, you may have to pay a penalty -- sometimes as much as all the interest that has been credited to your account. Some other time deposits require you to give advance notice if you plan to withdraw money.

time deposit

see COMMERCIAL BANK.
References in periodicals archive ?
25) In our MSI database, we use the Jevons formula to create user cost sub-indexes for small-denomination time deposits at commercial banks and thrift institutions, large-denomination time deposits, total Eurodollar deposits, bankers acceptances, and commercial paper.
M2 contracted further in October while M3 expanded at a moderate pace, buoyed by continued rapid growth in large-denomination time deposits.
M2 and M3 changed little in May and appear to have contracted in June; both retail and large-denomination time deposits continued to run off rapidly.