Term Deposit

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Definition: Term Deposit

Term Deposit
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Full Definition of Term Deposit

Term Deposit refers to a deposit kept with a bank for a fixed term. The maturities for term deposit range from between a month to a few years. Once a customer buys a term deposit, he can withdraw the money only after the predetermined term has ended or by giving a few days notice to the bank.

Term deposits are considered one of the safest investments. As a result, risk-averse investors find them very attractive. Term deposits generally pay a higher rate compared to demand deposits.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/term-deposit/
Modern Language Association (MLA):
Term Deposit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 19, 2024 https://payrollheaven.com/define/term-deposit/.
Chicago Manual of Style (CMS):
Term Deposit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/term-deposit/ (accessed: April 19, 2024).
American Psychological Association (APA):
Term Deposit. PayrollHeaven.com. Retrieved April 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/term-deposit/

Definition Sources

Definitions for Term Deposit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 16th April, 2020 | 0 Views.