A time deposit (also known as a certificate of deposit in the United States, a term deposit, particularly in Canada, Australia and New Zealand; a bond in the United Kingdom; Fixed Deposits in India and in some other countries) is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time (unless a penalty is paid)^{[citation needed]}. When the term is over it can be withdrawn or it can be held for another term. Generally speaking, the longer the term the better the yield on the money.

The opposite, sometimes known as a sight deposit or "on call" deposit, can be withdrawn at any time, without any notice or penalty: e.g., money deposited in a checking account or savings account in a bank.

The rate of return is higher than for savings accounts because the requirement that the deposit be held for a prespecified term gives the bank the ability to invest it in a higher-gain financial product class. However, the return on a time deposit is generally lower than the long-term average of that of investments in riskier products like stocks or bonds.

Hon. Pakung S. Mandudadatu also known as Pax Mangudadatu was elected Representative of the 1st district of Sultan Kudarat with Tacurong City under the administration's Kabalikat ng Malayang Pilipino (Kampi) party in 2007.

He was born in Buluan, Cotabato (now Buluan, Maguindanao). He served as municipal mayor of Lutayan before he ran for governor of the province in 1998. During his campaign for governor, he and Rep. Angelo Montilla created the SK UNA political party. He defeated Sultan Kudarat Vice Gov. Rose Jamison for governor of the province and making history as the first Muslim governor of the Christian-dominated province. He served as provincial governor for nine years from 1998-2007.

During his campaign for his last term as governor last 2004, he was challenged by his ally Rep. Angelo Montilla who he defeated. He was reelected as governor and his son, Mayor Suharto Mangudadatu of Lutayan won the lone district congressional race.

Last May 14, 2007, he was elected as representative of the first district of the province over his rival Angelo Montilla. Again, he made history for being the first representative of the first district of the province; While his son, Rep. Suharto Mangudadatu, succeeded him as provincial governor.