Difference between time deposit and term deposit
↵Nothing much! Just in terms of the units.
Time deposits and term deposits both are time based investment options. The only difference between the two is that while time deposits have maturity in terms of days, say 7 to 15 days, 60 to 90 days, etc. on the other hand, term deposits have maturity in terms of months, say 3 months, 10 months or 5 years. So, here are the two hairline differences between the two.
Time deposits and term deposits both are time based investment options. The only difference between the two is that while time deposits have maturity in terms of days, say 7 to 15 days, 60 to 90 days, etc. on the other hand, term deposits have maturity in terms of months, say 3 months, 10 months or 5 years. So, here are the two hairline differences between the two.
- Time deposits- No. of Days & Term Deposits- No. of Months/Years
- Time deposits are not fixed, it has a range 7 to 15 days, whereas, term deposits are fixed- 3 months, 6 months