time deposit : a bank deposit that can be withdrawn only after a set period of time or with prior notice.
b : something given as security see also security deposit NOTE: A deposit may be applied to a purchase price or may be considered partial payment. 
3 in the civil law of Louisiana
a : the gratuitous transfer of possession of movable property to another for a limited time or specified purpose such that the depositary is liable to some extent for loss or damage to the property see also sequestration compare bailment hiring loan for consumption and loan for use at loan NOTE: Like the common-law bailment, the civil law deposit requires either actual or constructive delivery.