What is the maturity period of public deposit? *
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What Is a Time Deposit?
A time deposit is an interest-bearing bank account that has a pre-set date of maturity. A certificate of deposit (CD) is the best-known example. The money must remain in the account for the fixed term in order to earn the stated interest rate.
Time deposits generally pay a slightly higher rate of interest than a regular savings account. The longer the time to maturity, the higher the interest payment will be.
Another name for this type of investment is term deposit.
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The public deposits are usually raised for a period of upto 3 years.
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