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What are time deposits?

Asked by Topperlearning User 24th April 2015, 7:31 AM
Answered by Expert
Answer:

Time deposits are fixed term deposits with a fixed maturity period and their term of deposit varying from 7 days to 10 years. These deposits cannot avail the benefits of issuing cheque against them and cannot be payable on demand. But time deposits can avail interest towards the deposited amount.

Answered by Expert 24th April 2015, 9:31 AM
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