I understand the function of a time deposit. You can make a deposit, and you cannot withdrawal (without a fine) for a set amount of time. Really what I'm confused upon is what types of accounts are considered time deposits.
Investopedia's definition is:
A time deposit is an interest-bearing bank deposit account that has a specified date of maturity, such as a savings account or certificate of deposit (CD).
Sapling's definition starts with:
Time deposits, also known as certificates of deposits, are promissory notes issued by banks.
Then goes on to explain the three types of CD accounts: traditional, liquid, and brokered.
The Investopedia article suggests that a savings account is a type of time deposit, and that there are other types beyond the two listed (but never describes any other examples). The Sapling article suggests that "time deposit" is equivalent to "certificate of deposit", implying a savings account is not a type of time deposit.
Can anyone clarify?