time account
A "time account" can refer to a financial instrument for saving money over a fixed period or a tool for tracking employee working hours and leave.
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Definition
B2Finance
(technical, banking)A savings tool where money is deposited for a set period, earning interest, often with penalties for early withdrawal.
Example
- She opened a time account to save for her future home.
- The bank offers a higher interest rate for money in a time account.
B2Human Resources
(business, administrative)A system for tracking an employee's working hours, overtime, and leave.
Example
- The company uses a time account to monitor employee attendance.
- He checked his time account to see how many vacation days he had left.
Similar
Terms that have similar or relatively close meanings to "time account":
cast accountstime bankon accountfinal accounttime billcurrent accountdebit accountaccount fortime controltime planon someone's accountholding timecapital account