• Time Deposit Account Means
• Time Deposit Account Do Not Earn Interest
• Time Deposit Account In Spanish
• Time Deposit Account Meaning

A time deposit or term deposit (in the United States also known as a certificate of deposit) is a deposit in a financial institution with a specific maturity date or a period to maturity, commonly referred to as its “term”. Time deposits differ from at call deposits, such as savings or checking accounts, which can be withdrawn at any time, without any notice or penalty. Deposits that require notice of withdrawal to be given are effectively time deposits, though they do not have a fixed maturity date.

Unlike a certificate of deposit and bonds, a time deposit is generally not negotiable; it is not transferable by the depositor, so that depositors need to deal with the financial institution when they need to prematurely cash out of the deposit.

Certificates of deposit are time deposit accounts that operate on a deadline. Each CD has a term, ranging between three months and 60 months. The CD earns interest from the moment it’s funded until the term comes to an end, which is known as the CD’s maturity date. Any Deposit Checking Account Guide July 1, 2020 This guide is provided to help you understand some of the most common features and fees associated with your Any Deposit Checking Account and is not a substitute for your Account Deposit Disclosure and Safe Deposit Box Rental Agreement Terms and Conditions for.

Time deposits enable the bank to invest the funds in higher-earning financial products. In some countries, including the United States, time deposits are not subject to the banks’ reserve requirements, on the basis that the funds cannot be withdrawn at short notice. In some countries, time deposits are guaranteed by the government or protected by deposit insurance.

Interest[edit]

Time deposits normally earn interest, which is normally fixed for the duration of the term and payable upon maturity, though some may be paid periodically during the term, especially with longer-term deposits. Generally, the longer the term and the larger the deposit amount the higher the interest rate that will be offered.^[1]

The interest paid on a time deposit tends to be higher than on an at-call savings account, but tends to be lower than that of riskier products such as stocks or bonds. Some banks offer market-linked time deposit accounts which offer potentially higher returns while guaranteeing principal.

Time Deposit Account Means

At maturity[edit]

At maturity, the principal can be either paid back to the depositor (usually by a deposit into a bank account designated by the depositor) or rolled over for another term. Interest may be paid into the same account as the principal or to another bank account or rolled over with the principal to the next term.

The money deposited normally can be withdrawn before maturity, but a significant penalty will normally be payable.

See also[edit]

References[edit]

1. ^'Time Deposit'. Investopedia. 2003-11-24. Retrieved 2016-11-01.

A deposit alternative for members whose Capital Contribution Account has already reached the maximum limit.

Eligibility:

• Open to Regular and Associate members with existing SD-002 Account where he/she is the principal depositor

Time Deposit Account Do Not Earn Interest

• Minimum deposit of ₱15,000
• Deposit anytime (no placement period)
• Interest earned shall be posted semi-annually. Principal and remaining interest shall be posted to SD-02 account upon maturity.
• Documentary Stamp Tax (DST) to be shouldered by AFPSLAI
• Duly filled-out TD Account Form and TD Agreement

Time Deposit Account In Spanish

• AFPSLAI ID
• SD-002 passbook
• Proof of sources of funds

Time Deposit Account Meaning

• Single account only. No co-depositors allowed.
• Deposits must not come from other savings accounts of the member or his family group.
• Members can pre-terminate his/her TD, subject to
  • Pre-termination rate

    At least half of the term	50% of the interest rate.
    Less than half of the year	25% of the interest rate.

  • DST shall be deducted in full from the pre-termination proceeds.
  • Proceeds of the pre-termination shall be posted to member’s SD-002 account.
  • The TD Agreement must be surrendered to AFPSLAI where the TD was originally opened.