A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it.

In simple word:-

A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans, and thereby expand business activity.

Where As Term deposit:-

A deposit held at a financial institution that has a fixed term.

These are generally short-term with maturities ranging anywhere from a month to a few years.

In Simple Word:-

When a term deposit is purchased, the lender (the customer) understands that the money can only be withdrawn after the term has ended or by giving a predetermined number of days notice.

Great Question... if you bank with me, I guarantee you will die as far as your Term Deposit?... Go Figure!