4 ms·
> If they locked deposits for a period of time they could safely (and morally) loan that money out without lying Are fixed deposits not common in the US?
by thesimon 4y ago
> If they locked deposits for a period of time they could safely (and morally) loan that money out without lying
Are fixed deposits not common in the US?
- paulgb 4y agoThere is a product called a Certificate of Deposit[1], but I don’t hear much about them. They seem like quite a bit of hassle for not much more interest. [1] https://en.wikipedia.org/wiki/Certificate_of_deposit https://en.wikipedia.org/wiki/Certificate_of_deposit
- sethhochberg 4y agoNot very common. Most consumer and business checking and savings accounts are demand deposit accounts here. The default path for slightly higher interest on a fixed term in the US tends to be certificates of deposit. They’re similar but functionally more like a bond you purchase than an account you can deposit into regularly.