time deposit


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Related to time deposit: time deposit account

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 ?
She said the Commission on Audit doesn't allow the city to pre-terminate its time deposits so it can pay some fees.
Summary: Percentage of time deposits to total cash savings by individual customers plummets from 52% to 28%
63 in a time deposit account instead of using the funds for the specific purposes for which these were intended, contrary to the provisions of Section 1 of R.
The Bank of Cyprus announced on Wednesday that it releases the twelve-month time deposits of about e1/4927 mn, that were blocked as per the decrees relating to the recapitalisation of the Bank in July 2013 and mature on 31 July 2014.
Real Time Deposit provides NCB customers the ability to image-capture check payments at their business location--via a secure internet connection--and deliver the images and information to NCB for immediate electronic deposit into their operating account.
At least on a superficial level, credit crunches, financially troubled banks, and small time deposit shrinkage all seem to be interrelated phenomena.
Bank of Cyprus announced on Wednesday the release of the nine-month time deposits that were blocked as per the decrees relating to the recapitalisation of the Bank in July 2013 and which matured on April 30.
LTNCDs are negotiable certificates of time deposit insured by PDIC for up to P500,000 and are tax exempt for qualified individuals if held for at least 5 years.
For prospective clients, the key benefit will be a marked reduction in the levels of document submission as a result of the elimination of Time deposit
The one-year time deposit product is called 'Citi Step-Up' and is based on a new concept of increasing interest every three months.
In August 1997, as many as 37 banks are recorded to have increased their time deposit interest rates with one- and three-month time deposits showing the highest interest hikes.
Additional information about Union Bank's foreign currency time deposit investment is available on the attached podcast featuring Union Bank Vice President and Foreign Exchange Advisor Kate McNally.

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