fbpx
The article may contain affiliate links from partners. The words, opinions, and reviews are our own. Learn how we make money to support our financial wellness mission.

A time deposit (also known as a term deposit) is a money deposit at a bank that cannot be withdrawn for a certain “term” or period of time. When the term is over it can be withdrawn, or it can be held for another term. The longer the term, the better the yield on the money. Generally, there are significant penalties for early withdrawal.

Main Menu