Can you deposit and withdraw money at any time?|||by term deposit you mean CD and it depends if it is for more or less than a year, you can not add or withdraw money like a money market.|||Term deposit means that the money is deposited for a particular period of time, could be a year or 2 or longer. Your interest rate partly depends on the length of time your money is placed. Normally you can't add or withdraw money at anytime to it. ... you can withdraw but you pay penalties for withdrawing before the end of the term.
If the term deposit is for less than a year, then the deposit is classified as a current asset. If it is for longer then it is a non current asset.
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