LeoGlossary: Time Deposit

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10 months ago - 1 minutes read

A deposit that is locked for a certain period of time and cannot be withdrawn. Once the term expires, the money can be withdrawn or locked for another period of time.

Typically, people opt to lock in for longer periods of time since the rate of return, i.e. interest rate, is better. An example of this are Certificates of Deposit (CDs).


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