Meaning of “fixed deposit” in the English Dictionary

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"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)