Term Deposit


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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.
References in periodicals archive ?
Mr Kell also highlighted the need for ongoing vigilance by investors using term deposits.
Abdullah Al Jabry, head of Al Hilal Islamic Banking Services, said, 'The Term Deposit Account makes both long term and short term investment opportunities available to our clients.
UCO Bank, one of the oldest and major commercial banks of India which is also based in Kolkata, has increased its interest rates on retail term deposits involving amounts of Rs 1crore and 5 crore by 45-50 basis points (0.
25%) rewarded to the senior citizens on retail term deposits.
Regarding the term deposit with a period of 181 days to 240 days, the interest rate will be hacked by 0.
On Wednesday, the State Bank of India (SBI) has announced that it has decided to hack interest rates on term deposits by 0.
Regarding the amount of term deposits, State Bank of India offers interest rates under three slabs and these are less than Rs.
The new rate for term deposits with a period of 7 days to below 1 year on less than Rs.
The interest rate for term deposits with a period of 1 year to below 2 years will be reduced the present 9% to 8.