A time deposit is also known as:
Understand the Problem
The question is asking for the alternative name for a time deposit, with multiple choice options provided for selection.
Answer
a savings account
The final answer is a savings account.
Answer for screen readers
The final answer is a savings account.
More Information
A time deposit is also referred to as a certificate of deposit (CD) or a term deposit. It generally offers higher interest rates than a regular savings account but requires the money to be held for a specific period.
Tips
Avoid confusing a time deposit with products that allow immediate or on-demand access, like checking accounts.
Sources
- Time deposit - Wikipedia - en.wikipedia.org
- The web page with info on - Example Source - study.com
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