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Definition of 'Time Deposit'
A savings account or CD held for a fixed-term with the understanding that the depositor can only withdraw by giving written notice.
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Investopedia explains 'Time Deposit'
The term generally is at least 30 days.
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If your investments in the stock market are keeping you from sleeping at night, it's time to learn about the safer alternatives in the money market.
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This investment provides security, but its returns may not be adequate for long-term investors.
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Search and compare the best checking and savings rates nationwide from Bankrate.com. Click Here!
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