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unless the deposit is subject to an early withdrawal penalty of at least seven days' simple interest on amounts withdrawn within the first six days after deposit, subject to those exceptions permissible under 12 CFR Part 204, as amended from time to time;

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 accounts and certificates of deposit shall be payable within such times as the proceeds will be needed to meet expenditures for which the moneys were obtained, and shall be secured as provided in Sections VIII and IX herein.

• Time deposit open accounts or credit union share certificate open accounts.

• Time deposit passbook accounts, savings certificates, and notice accounts.

• For works costing above 50 lacs (iii)+ 2.5% without any limitIn security amount in excess of Rs. 2 lakhs can be given in shape of National Saving Certificate of Fix deposit, receipt, duly pledged in favour of the Executive Engineer .The security deposit will be collected by the deduction from the running bills of the contractor at the rates mentioned above and the earnest money deposit in the shape of National Saving Certificate / Time deposit Account / P.O. Saving Account in any of the Post Office .

• Time deposit accounts in a bank or trust company authorized to do business in New York State.

More Definitions of Time deposit

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

Time deposit means time certificates of deposit, time deposits open account, and savings 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 deposit with a fixed maturity date placed by the Customer with the Bank.

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

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

Time deposit means a deposit for which there is in force a contract providing that neither the whole nor a part of the deposit may be withdrawn by check or otherwise before the expiration of the period of notice that must be given in writing in