time deposit

noun

Banking.

1. a deposit that can be withdrawn by the depositor only after giving advance notice or after an agreed period of time has elapsed.

time deposit

noun

1. a bank deposit from which withdrawals may be made only after advance notice or at a specified future date Compare demand deposit

Word History and Origins

Origin of time deposit¹

An Americanism dating back to 1850–55

Example Sentences

"There was a certain amount of rotation into time deposits, but a large share of the decrease was caused by shifts in customer funds at Credit Suisse in October 2022," the report said.

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Some have also offered time deposits to wealthy clients using private banking services or to corporate clients.

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The lenders cut rates on two-year time deposits by 10 bps points, and three-year and five-year time deposits by 15 bps points.

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Moynihan said that for the first time in a long time deposits had come down a little bit for the industry.

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Deposits grew 19.9%, aided by higher time deposits and current and savings account deposits.

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