Vocab Bloom Hub

time deposit account

/taɪm dɪˈpɒzɪt əˈkaʊnt/

1 entry

phrase

/taɪm dɪˈpɒzɪt əˈkaʊnt/B2formalbusiness
  • ruФинансовый счет в банке или кредитном союзе, на который деньги вносятся на фиксированный срок и не могут быть сняты до даты погашения без штрафа, обычно приносящий более высокую процентную ставку, чем обычный сберегательный счет.

A financial account held at a bank or credit union where money is deposited for a fixed period and cannot be withdrawn before the maturity date without incurring a penalty, typically earning a higher interest rate than a regular savings account.

  1. Bank savings productB2formal

    A type of bank account where money is deposited for a fixed period and earns a fixed interest rate, with penalties for early withdrawal.

    ruСрочный депозит

    • She opened a time deposit account to save for her child's education.
    • The bank offers a higher interest rate for time deposit accounts compared to regular savings accounts.
    • He withdrew his money early from the time deposit account and had to pay a penalty.