term deposit

Definition

Savings account or CD held in a financial institution, usually a bank, for a fixed term or with the understanding that the customer can withdraw only by giving advanced notice. also called time deposit.

Use term deposit in a sentence

You may want to make a term deposit so that you know you will have the funds you need on a specific date.

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The term deposit was held in an institution and we all thought it was really cool and worth taking a look at.

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The term deposit that he had placed with Ally would come up to maturity in May, but he desperately needed the money and wanted to withdraw it immediately.

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deposit broker pre-encashable deposit