ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A time deposit is an interest-bearing bank account that has a pre-set date of maturity. A certificate of deposit (CD) is the best-known example. The money must remain in the account for the fixed term in order to earn the stated interest rate.

Detailed explanation-2: -A Certificate of Deposit (also known as a CD, COD, or Time Account) is a financial product that usually pays a fixed interest rate for a set period of time, ranging from a few months to several years. This period of time is known as a “term.”

Detailed explanation-3: -A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years, and in exchange, the issuing bank pays interest.

Detailed explanation-4: -A certificate of deposit account, also known as a CD, locks away the money you deposit into an account for a predetermined period of time.

Detailed explanation-5: -A certificate of deposit (CD) is a type of savings account that requires the account holder to leave their money in the account for a specified amount of time, known as the CD “term, ” in exchange for earning a fixed rate of interest.