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English definition of “term deposit”

term deposit

noun [C or U]
 
 
(also time deposit)
BANKING, FINANCE an arrangement with a bank in which you have an account that pays interest, usually with money left in it for a fixed period of time: They hold term deposits which cannot be paid until the date the deposit would have matured.
(Definition of term deposit from the Cambridge Business English Dictionary © Cambridge University Press)
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