Time Deposit (Noun)
Meaning
A certificate of deposit from which withdrawals can be made only after advance notice or at a specified future date.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank offered a time deposit with a fixed interest rate for a period of one year, which was attractive to investors seeking low-risk returns.
- She invested her savings in a time deposit to earn a higher interest rate than her regular savings account.
- The company's financial manager recommended placing excess funds in a time deposit to maximize returns while maintaining liquidity.
- To avoid early withdrawal penalties, he made sure to review the terms of the time deposit carefully before signing the agreement.
- The time deposit was a popular option among retirees who wanted to earn interest on their savings without taking on excessive risk.