Term Deposit

Definition

  • An investment product where a fixed sum of money is deposited into an account for a set period of time with interest paid over the term.

Synonyms
extent of time, length of action, timed deposit, predefined duration, period

Acronyms
TD

Related Terms and Acronyms

  • Guaranteed Investment Certificate (GIC) Acronym, Important,
    • An investment that pays a set rate of interest over a fixed period of time.
  • Money Market Account (MMA) Acronym,
    • A bank account that restricts the type and number of withdrawals. The account also earns interest similar to money market funds.
  • Term Definition,
    • The length of time you commit to repay a lender or bank at an agreed upon interest rate and payment schedule. The interest rate usually remains constant during this term unless the commitment states otherwise. For example, a five year fixed rate mortgage has a term of five years.
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