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LSDefine

Simple English definitions for legal terms

time deposit

Read a random definition: remittitur damna

A quick definition of time deposit:

A time deposit is when you give your money to a bank for a specific amount of time. You can't take the money out until the time is up or you give the bank notice. It's like giving your money to the bank to keep it safe and earn interest.

A more thorough explanation:

A time deposit is a type of bank deposit where the money is kept in the bank for a specific period of time or requires notice before withdrawal. This is different from a demand deposit, where the depositor can withdraw the money at any time without prior notice to the bank.

For example, if you put $1000 in a time deposit for 6 months, you cannot withdraw the money until the 6 months are up. If you need the money before then, you may have to pay a penalty or lose some of the interest earned.

Another example of a time deposit is a certificate of deposit (CD), which is a type of savings account that earns a higher interest rate than a regular savings account but requires the money to be kept in the account for a specific period of time.

Overall, time deposits are a way for banks to secure funds for a set period of time and offer higher interest rates to depositors in return.

time check | time draft

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JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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