What is a time deposit?
In Banking - Cds - Asked by Admin - 8 months ago
A time deposit is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time.
Answered by Admin - 8 months ago
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If you have cash sitting in the bank and are scared to invest it into something or have a reason not to invest a CD might be a good option. CDs are a way to make a higher percentage from the bank each year. CDs come in different time periods and rates. If you have questions about CDs or need the answer to questions like "what is a time deposit?" Zuuply.com can answer them or you can browse our archives.