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Home > QFINANCE Dictionary > Definition of time deposit

Definition of

time deposit

Banking

US savings arrangement for specified period a US savings account or a certificate of deposit, issued by a financial institution. While the savings account is for a fixed term, deposits are accepted with the understanding that withdrawals may be made subject to a period of notice. Banks are authorized to require at least 30 days' notice. While a certificate of deposit is equivalent to a term account, passbook accounts are generally regarded as funds readily available to the account holder.

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time deposit - Related Articles

  • Fixed-Deposit Compound Interest

    Calculations

    The compound interest paid on fixed deposits, which is usually paid more frequently (monthly or quarterly) than a traditional annual interest rate. As the frequency of compounding increases, so does the effective rate of interest.

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    Best Practice

    to invest. For example, MNCs invest surplus renminbi balances in call and time deposits. Since they are onshore renminbi instruments, they have regulated rates. Additionally, renminbi money market and bond funds are available to the MNC treasurer.
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Definitions of ’time deposit’ and meaning of ’time deposit’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’time deposit’ and other financial terms with our online QFINANCE Financial Dictionary.

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