What is the Definition of Time Deposit?
Funds that are held in a savings account for a predetermined period of time at a set interest rate. Banks can refuse to allow withdrawals from these accounts until the period has expired or assess a penalty for early withdrawals.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
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What is the Definition of Time Deposit?
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a deposit that an organization is required to maintain with a broker with respect to the Futures Contracts purchased or sold.
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fair value or the price that could be derived from current sale of an asset.
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