Term:
savings bond [France, Belgium, U.S.]
Definition:

Short- or medium-term fixed-interest bearer bond issued by a public credit institution or commercial bank. It is not marketable. Bons de caisse are general French savings bonds. Bons d'épargne are five-year savings bonds issued at par. The bearer can ask to be reimbursed after three months but the amount he is paid increases over the five-year period.

Domain:
Finance
Source:
World Bank: Glossary of Finance and Debt
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