There are certain types of Cuentas Bancarias that are deposited in the banks for a fixed tenure.  They are also known as “Term Deposits” in many countries like Australia, New Zealand and Canada. The process is to deposit as certain amount, normally a big amount, in the banks and obtain a deposit certificate against the same from the bank. You cannot withdraw the amount before the date of maturity of the certificate which means the money remains deposited with the bank for a certain period of time which could be anything from one to ten years or even more. The higher the tenure, the greater is the rate of the interest you get against your deposits.

This type of Cuenta Bancaria can not be converted to liquid cash before the tenure for which the deposit is made. Though some of the banks provides you with the facilities to make such pre-mature conversion of the deposit certificates into liquid cash, you lose a small percentage of the sum deposited and do not get the interest either. This is obviously a losing proposition most of us will not like. Hence no one likes to take such action unless and until there is some serious financial exigencies.

When you Abrir Cuenta Bancaria in United States, You have two types of time deposits, namely, the large amount term deposits and small amount term deposits. Any amount below 100,000 is considered to be small term deposits. Large term deposits are also known as “jumbo CD” in America.  Recently, the limits have been lowered to $95,000.