A saving account is also known as a time deposit, true or false ?

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A saving account is also known as a time deposit, true or false ?

2006-09-16 17:46:12 · 3 answers · asked by Anne T 1 in Business & Finance ➔ Corporations

3 answers

it is true because in order to save you need to deposit but its too commom to called as deposit

2006-09-16 17:55:53 · answer #1 · answered by Neefs Portillo 4 · 1⤊ 0⤋

not all savings accounts would be a 'timed deposit' only an account such as a certificate of deposit, where there is a specific time period in which you can not touch the funds, in return for which you get a higher interest rate than a liquid account would be timed deposits.

2006-09-17 00:54:19 · answer #2 · answered by rainydaydreamr 4 · 2⤊ 0⤋

No idea

2006-09-17 00:54:50 · answer #3 · answered by Amanda 4 · 0⤊ 1⤋