[thesimon]

> If they locked deposits for a period of time they could safely (and morally) loan that money out without lying

Are fixed deposits not common in the US?

[paulgb]

There is a product called a Certificate of Deposit[1], but I don’t hear much about them. They seem like quite a bit of hassle for not much more interest.

[1] https://en.wikipedia.org/wiki/Certificate_of_deposit

[sethhochberg]

Not very common. Most consumer and business checking and savings accounts are demand deposit accounts here.

The default path for slightly higher interest on a fixed term in the US tends to be certificates of deposit. They’re similar but functionally more like a bond you purchase than an account you can deposit into regularly.