Okuzeka
Finance & Banking vocabulary · Accounts & Deposits

Time deposit

Meaning in finance & banking, with examples

nounCore term

In finance & banking, time deposit means: Money placed in a bank for a fixed period, such as 32 days or one year, at an agreed interest rate. Taking it out early usually means losing some or all of the interest.

In Turkish: vadeli mevduat, vadeli hesap

How it is used

Very common in Turkish banking and corporate treasury. Also called a term deposit (UK, Australia) or a certificate of deposit, CD (US). Customers open, renew or break a time deposit, and it matures on the maturity date.

Example sentences

  1. She opened a 32-day time deposit with her savings.

  2. If you break the time deposit before maturity, you will lose the interest.

Common collocations

  • open a time deposit
  • break a time deposit
  • time deposit rate
  • renew a time deposit
  • depositMoney that you put into a bank account, or the act of putting it there. For a bank, customer deposits are its main source of funding.
  • savings accountA bank account for keeping money you do not need every day. It pays interest, but it may limit how often or how quickly you can take money out.
  • maturityThe date when a loan, deposit or bond ends and the principal must be repaid, or the length of time until that date.
  • interest rateThe price of borrowing money, shown as a percentage of the amount borrowed or saved for a period, usually one year.

More terms: Accounts & Deposits

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This page explains English vocabulary for learners. It is not financial advice.