A deposit with a specific maturity. Usually, but not always, a certificate of deposit. American Banker Glossary
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Interest-bearing deposit at a savings institution that has a specific maturity. Related: Certificate of deposit . Bloomberg Financial Dictionary
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► See CD.
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time deposit UK US noun [C] (also fixed deposit) BANKING, FINANCE
► a financial arrangement in which you put money in a bank account to earn interest for a fixed period of time: »
They offer 2.7% on a one-year time deposit and 3.2% for a five-year time deposit.
Financial and business terms. 2012.