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Recurring Deposit: A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest.

Term Deposit: A Term Deposit or a Fixed Deposit (FD) Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit

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What is the difference between a time deposit and a certificate of deposit?

A time deposit (also known as a term deposit, particularly in Canada, Australia and New Zealand; a bond in the United Kingdom) is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time. When the term is over it can be withdrawn or it can be held for another term. Generally speaking, the longer the term the better the yield on the money. A certificate of deposit is a time-deposit product. A Certificate of Deposit (CD) can be traded, while a time deposit cant be traded because it is linked to a bank account.


Difference between time deposit and demand deposit?

Demand Deposit It is type of an account from which deposited funds can be withdrawn immediately at any time without any notice to the depository institution. Time Deposit It is type of deposit which is in contrast to demand deposit and funds are not available immediately .These are also known as term deposits .


What is the difference between a banc and a bank?

The term "banc" refers to a bench or a high court, while "bank" refers to a financial institution where people can deposit, withdraw, and borrow money.


How can you add money to a term deposit?

To add money to a term deposit, you can make a deposit at the bank or financial institution where the term deposit is held. You can do this by transferring funds from your savings or checking account into the term deposit account.


What is the difference between a good faith deposit and earnest money in a real estate transaction?

A good faith deposit is a general term that shows a buyer's commitment to a real estate transaction, while earnest money specifically refers to a deposit made by the buyer to show their serious intent to purchase the property.

Related Questions

What is the difference between fixed deposit and non convertible debenture?

fixed deposit has its fixed term, but debenture does not have any term. fixed deposit can be invested in eqty,debt or any other , but the debenture is debt only.


What is the difference between a time deposit and a certificate of deposit?

A time deposit (also known as a term deposit, particularly in Canada, Australia and New Zealand; a bond in the United Kingdom) is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time. When the term is over it can be withdrawn or it can be held for another term. Generally speaking, the longer the term the better the yield on the money. A certificate of deposit is a time-deposit product. A Certificate of Deposit (CD) can be traded, while a time deposit cant be traded because it is linked to a bank account.


What term is defined as the patterned reccuring alternation of contrasting sounds?

Rhythm


Difference between time deposit and demand deposit?

Demand Deposit It is type of an account from which deposited funds can be withdrawn immediately at any time without any notice to the depository institution. Time Deposit It is type of deposit which is in contrast to demand deposit and funds are not available immediately .These are also known as term deposits .


Difference between certificate of deposit and fixed deposit?

A certificate of deposit or CD is a time deposit, a financial product commonly offered to consumers by banks. A fixed deposit is the same thing as a CD but the term is more often used in south-east Asian countries like India, Sri Lanka, etc while certifcate of deposit is used in North American countries and likewise.


What is the difference between short term and long term investing?

A short term investment could be something that you would use in the next couple months or years, such as a Certificate of Deposit. A long term investment would be something that you may not be using until your retirement.


What is the difference between a banc and a bank?

The term "banc" refers to a bench or a high court, while "bank" refers to a financial institution where people can deposit, withdraw, and borrow money.


How can you add money to a term deposit?

To add money to a term deposit, you can make a deposit at the bank or financial institution where the term deposit is held. You can do this by transferring funds from your savings or checking account into the term deposit account.


What is the difference between a good faith deposit and earnest money in a real estate transaction?

A good faith deposit is a general term that shows a buyer's commitment to a real estate transaction, while earnest money specifically refers to a deposit made by the buyer to show their serious intent to purchase the property.


Define a reccuring deposit?

The Recurring deposit account is an account in the bank (or a Post office in some countries) where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.


Is there a difference between time deposits and term deposits?

Tim deposits is usually a term they use in Europe and the US. <a href="http://en.wikipedia.org/wiki/Term_deposit">Time Deposit article from Wikipedia</a> Term deposits is what they call them in Australia and New Zealand. <a href="http://mozo.com.au/term-deposits">Term Deposits</a> in Australia.


What is it called when the constant difference of any term and the previous term?

In an arithmetic sequence, the difference between any term and the previous term is a constant.