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Meaning of “fixed deposit” in the English Dictionary

"fixed deposit" in Business English

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fixed depositnoun [C or U]

uk   us  
BANKING, FINANCE an arrangement with a bank in which you leave your money in an account for a particular length of time, in order to get a higher rate of interest that is fixed: a fixed-deposit account She invested the money on fixed deposit for six months.
(Definition of fixed deposit from the Cambridge Business English Dictionary © Cambridge University Press)
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