fixed deposit

Definition

A deposit held by a bank or other financial institution or a fixed amount of time agreed upon between the bank and the depositor. In exchange for not withdrawing the money during the agreed-upon period of time, the bank pays the depositor a larger amount of interest than would be earned from a standard unfixed deposit.

Use fixed deposit in a sentence

My Edward Jones account has a nice interest rate, but it has the draw back of being a fixed deposit account.

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You may want to give out a fixed deposit so that the other party will be comfortable doing the deal with you.

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They opened a CD account and agreed to a term of two years. Since they didn't need the money, the decided on using a fixed deposit account to earn interest.

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fixed dates foreign currency fixed deposit (FCFD)