time deposit

(eg. summary, literature, celtic )

time deposit Meaning of "time deposit"

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Definition(s):

  • (n) a certificate of deposit from which withdrawals can be made only after advance notice or at a specified future date

Usage(s):

  1. He reckons that a New Yorker who put $1,000 in a time deposit paying 7% in 1974 now has $890, after inflation and taxes, to show for his prudence.
  2. Shortly before its suspension Ponzi ran up an overdraft of $441,000 in his checking account, although he had a large time deposit.
  3. Most big Manhattan commercial banks lifted their rates from 4% to 4% on certificates of depositthe most popular form of time deposit.
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incendiary
/ɪn ˈsɛn di ɛ ri /

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