Question

Write a word or phrase or a term which can substitute each one of the following:

An account where fixed amount is kept for a specific period.

Answer 1

An account where fixed amount is kept for a specific period- Fixed account
Explanation:
In a fixed deposit account, an amount is deposited for a specific period. The amount deposited cannot be withdrawn before maturity. In case a person withdraws the amount before the expiry of the fixed period, the rate of interest that is to be paid becomes less than what was applicable.