Short Term Deposits

In deposit terminology, the term Short Term Deposit refers to an amount of money placed in a bank or financial institution for a term no longer than one year. A Short Term Deposit will usually earn a fixed rate of interest. Short-term deposits are considered to be term deposits with terms lasting no longer than one year. The more common term deposit terms include six, nine, and 12-months, but many ADIs offer term deposits of any duration in between, be it three or four months, one month, seven months, or 11 months. there are 5steps of audit procedures in this S.T.D.