Fixed deposit, term money; instalment loan

Money that the customer places at the bank’s disposal for a contractually agreed period of time at a specific interest rate; also known as time deposit. Contracts of between three and twelve months are common; the minimum investment amount is usually specified by the bank. The advantage of time deposits for the customer is the guaranteed interest rate, independent of market interest rates. – Amounts borrowed on a fixed (short) term, usually between one day and three months, also called a fixed loan. – Other name for the base rate. – In old documents, a levy for fortress construction, other name for the fixed money. – See deposit money, fixed account, fixed interest, money values, trench money, credit, short-term, blocked account.

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