Deposit - In general for banks, what are the differences between long term and short term deposits?

In general for banks, what are the differences between long term and short term deposits?

This is talking about CD's Certified Deposits. BUT there are other kinds! Long Term = longer period of time a couple of years Short Term = Short period of time, usually months or 1 year Long Term deposits usually have better interest, but that's not always the case. Also the money is frozen for a long time, you cant touch it till the time is up without some kind of fee. Also you run the risk of interest rates going up in 2 years and your stuck with a 5 year CD at the old lower rate. (this can work the other way too to your Gain.)