Time deposit definition

Time deposit means a deposit that the depositor or share account holder does not have a right and is not permitted to make withdrawals from within six days after the date of deposit, unless the deposit is subject to an early withdrawal penalty of at least seven days' simple interest on amounts withdrawn within the first six days after deposit, subject to those exceptions permissible under 12 CFR Part 204, as amended from time to time;

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Time deposit means a deposit that the depositor does not have a right to withdraw for a period of seven days or more from the date of deposit. A "time deposit" may be represented by a transferable or nontransferable, or a negotiable or nonnegotiable, certificate, instrument, passbook, statement, or otherwise.

Time deposit and "Time Deposit Dealing Instruction" have the meanings set out in Clause 6.7.

Examples of Time deposit in a sentence

Time deposit interests accrue at the board rate from the time deposits are placed, for which the Bank is obligated by tax law to withhold taxes from interest income.
Time deposit accounts which do not automatically renew will stop earning interest at maturity.
Parent will, on or prior to the Effective Time, deposit with the Paying Agent the Merger Consideration to be paid in respect of the shares of Company Common Stock (the "Fund").
Safety Shot will, following receipt by Y▇▇▇▇▇ of the Final Order and prior to the Effective Time, deposit in escrow with the Depositary (the terms and conditions of such escrow to be satisfactory to the Parties, acting reasonably) the Consideration Shares evidencing Safety Shot’s obligations with respect to the Consideration.
Time deposit customers agree to keep funds on deposit for a fixed period of time.

More Definitions of Time deposit

Time deposit means any deposit accepted by a finance company with an agreement to repay after a specified period of time; and

Time deposit means a deposit of a sum of money with us as described in Clause 17 (Time Deposits);

Time deposit means a deposit of funds subject to a contract between the depositor and the depository under which the depositor may not withdraw any of the funds by check or by another manner until the expiration of a certain period following written notice of the depositor ’s intent to withdraw the funds.

Time deposit means a certificate of deposit which is not transferable or negotiable, and earns interest at a fixed rate for a specific term.

Time deposit means a deposit with a fixed maturity date placed by the Customer with the Bank.

Time deposit means time certificates of deposit, time deposits open account, and savings deposits.

Time deposit means any deposit which is repayable on the expiry of a fixed period.