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What is the difference between term deposits and time deposits?

What is the difference between term deposits and time deposits?

Monday, July 3, 2017, 11:24 AM

Term deposits is a very generic term used for fixed deposits. It is a deposit which is placed and can be withdrawn over a specific period of time. The same also hold true for time deposits. However, time deposits are more used when you want to place more of a short term deposit like a few days.
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