$timeout and $interval are two AngularJS timer services. We use these services to call functions and these are similar to javascript’s setTimeout and setInterval functions.
$timeout- This is used to call a function and schedules a single call to the function . It calls another javascript function after a certain time delay.
Using $timeout-
1.To use timeout, you need to inject it into your controller. For example-

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $timeout){

});

2.We can use this to make function calls,i.e. schedule a function call after a  particular time delay. You can call a function by two methods. Below are the two methods-
a. For example:-

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $timeout){

    $timeout(Display, 5000);

});

function Display() {
    console.log("Timeout occurred");
}

b.

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $timeout){

    $scope. Display = function() {
        console.log("$scope.Display);// calling on the $scope object
    }

    $timeout( function(){ 
       $scope.Display(); 
        }, 5000);
});

Both the methods are set to call a function after 5 seconds(5000 milliseconds) of delay.

$interval-This is used to call a function and schedules repeated calls to the function . It calls another javascript function after a certain time delay.
Using $interval-
1.To use interval, you need to inject it into your controller. For example-

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $interval){

});

2.We can use this to make function calls,i.e. schedule repeated function calls after a  particular time delay. You can call a function by two methods. Below are the two methods-
a. For example:-

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $interval){

    $interval(Display, 5000);

});

function Display() {
    console.log("Timeout occurred");
}

b.

var egapp = angular.module(egapp", []);

egapp.controller(EgController", function($scope, $interval){

    $scope. Display = function() {
        console.log("$scope.Display);// calling on the $scope object
    }

    $interval( function(){
      $scope.Display(); 
       }, 5000);
});

Both the methods are set to call Display function every 5 seconds(5000 milliseconds) of delay.