Time deposit


 

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Time deposit

A savings account or certificate of deposit whose funds are subject to notice (such as 30 days) prior to withdrawal. In the event of early withdrawal a penalty will normally be incurred.

Time deposit

Interest-bearing deposit at a savings institution that has a specific maturity. Related: Certificate of deposit.



Time deposit

Similar Matches

American Depository Share (ADS)

American Depository Share (ADS)

Foreign stock issued in the US and registered in the ADR system.


Verification of deposit

Verification of deposit

As part of the loan process, a lender will ask a borrower's bank to sign a statement verifying the borrower's account balances and history.


Certificate of deposit

Certificate of deposit

A certificate, issued by a bank to a depositor, indicating a sum of money has been deposited for a specified term and on which interest is paid.


Global Depositary Receipt

Global Depositary Receipt

A certificate which represents ownership of a given number of a company's shares and which can be listed and traded independently from the underlying shares.


Good faith deposit

Good faith deposit

Used in the context of commodities. Refers to the initial margin account deposit needed when buying or selling a futures contract; approximately 2%-10% of the contract value. Used in the context of securities to describe the deposit required by securities firms engaged in transactions on behalf of a new client. Also used to refer to the deposit with a municipal bond issuer by firms competing for the underwriting business.


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