time deposit account
- noun
- /taɪm dɪˈpɒzɪt əˈkaʊnt/
- Specialized
:
cuenta de depósito a plazo
- You may face a penalty if you withdraw money early from your time deposit account.
Examples
-
Have you considered a time deposit account for savings?
-
I opened a time deposit account last month.
-
Banks often offer better rates on a time deposit account than on a regular savings account.
-
He decided to put his savings into a time deposit account to earn higher interest.
-
I decided to open a time deposit account to earn higher interest on my savings.
-
Before planning their trip, they put money into a time deposit account to ensure it would be locked away until they returned.
-
She explained that a time deposit account offers a fixed interest rate for the duration of the term.
Synonyms
3
4.1
A paper from a bank showing you deposit money for a fixed time to earn interest
2
3.9
A bank account where you leave money for a fixed time and often cannot take it out without notice
A bank account where you leave money for a fixed time to earn higher interest and cannot take out early
How Liquid
- US
35
2.8
50
2.3
- Specialized
- Specialized
Surface Forms
Morphology
The parts 'time' + 'deposit' + 'account' transparently suggest an account holding a deposit for a specified period (i.e., money kept for a set time), so a learner who knows the words can infer the general idea. However, the specific banking conventions (fixed term, withdrawal restrictions, penalties) are technical and not fully predictable from the constituents alone, and the collocational phrase is somewhat specialized, so the expression is not completely transparent to a B1 learner.
Etymology
Time deposit account: The name time deposit account shows the idea clearly: you deposit money for a set time into an account that you cannot take out until the period ends. That's why it means a bank account where money stays for a fixed time and you may pay a 'penalty' if you take money out early while getting 'higher interest' for leaving it there.