Commercial Applications
Time Deposit account is also known as ……………
- Recurring Deposit account
- Current account
- Saving Deposit account
- Fixed Deposit account
Banking
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Answer
Fixed Deposit account
Reason — A Time Deposit refers to a lumpsum investment made for a fixed tenure, e.g., one year, three years, five years, etc. It is also known as a Fixed Deposit or long-term deposit. Money cannot be withdrawn before the expiry of the period. A higher rate of interest is paid on these deposits.
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