Fixed Deposit Account

Fixed Deposit Account Meaning:
In deposit terminology, the term Fixed Deposit Account refers to a type of savings account or certificate of deposit where deposits are made for a specified period of time and that pay out a fixed rate of interest.

Fixed Deposit Account Example:
For example, Fixed Deposit Accounts require that the funds be left in the account until the maturity date, incurring penalties for early withdrawal. These types of accounts are ideal as a store of wealth for individuals, businesses and financial institutions, earning a higher rate of interest on liquid assets than regular savings and checking accounts. The term �Fixed Deposit� is used in India and Southeast Asia and its equivalent in the United States is Time Deposit or CD, while in the United Kingdom the equivalent term is a Bond, and in Australia and Canada the investment product is known as a Term Deposit.
Related Rates
  • List of Highest Fixed Account Rates by Country