A term deposit (time deposit): money deposited at a bank for a fixed period with restricted withdrawals until maturity, in exchange for typically higher interest than a regular account.
利率が良かったので、1年ものの定期預金を作った。
Because the interest rate was good, I opened a one-year term deposit.
定期預金は普通預金より利息が高いが、途中解約するとペナルティがある。
Term deposits pay higher interest than regular savings, but there are penalties for early withdrawal.
少額からでも定期預金に預けられるプランがある銀行も多い。
Many banks offer plans that allow you to place even small amounts into term deposits.