Term Deposit
A deposit held at a financial institution that has a fixed term. These are generally short-term with maturities ranging anywhere from a month to a few years. When a term deposit is purchased, the lender (the customer) understands that the money can only be withdrawn after the term has ended or by giving a predetermined number of days notice. Investopedia Says:
Term deposits are an extremely safe investment and are therefore very appealing to conservative, low-risk investors. By having the money tied up you'll generally get a higher rate with a term deposit compared with a demand deposit. Related Terms:
Certificate Of Deposit
Christmas Club
Demand Deposit
Deposit Broker
Foreign Currency Fixed Deposit - FCFD
Guaranteed Investment Certificate - GIC
Savings Account
Time Deposit |