Gravitational time dilation

Gravitational time dilation is a form of time dilation, an actual difference of elapsed time between two events, as measured by observers situated at varying distances from a gravitating mass. The lower the gravitational potential (the closer the clock is to the source of gravitation), the slower time passes, speeding up as the gravitational potential increases (the clock moving away from the source of gravitation).

Source: Wikipedia — Gravitational time dilation (CC BY-SA 4.0)