Question

Define term deposits..!!

Answer 1

Answer:

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Define term deposits..!!

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A time deposit or term deposit is a deposit in a financial institution with a specific maturity date or a period to maturity, commonly referred to as its “term”. Time deposits differ from at call deposits, such as savings or checking accounts, which can be withdrawn at any time, without any notice or penalty. 

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Answer 2

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• Term Deposits are one of the best investment options for people who are looking for a stable and safe return on their investments. In Term Deposits, the sum of money is kept for a fixed maturity and the depositor is not allowed to withdraw this sum till the end of the maturity period.