What is the Definition of Time Deposit?

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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provides broad form coverage of personal property of an insured manufacturer including raw material, goods in process, finished goods and goods shipped to customers.

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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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