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In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
A variable-rate CD — also called a flex CD — is a type of certificate of deposit with an interest rate that can fluctuate periodically over the term of the CD based on market conditions.
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank.. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates. CDs require a minimum deposit and may offer higher ...
In exchange for locking away your money, time deposit accounts often pay higher yields than demand deposit accounts. A certificate of deposit (CD) is an example of a time deposit account. CDs come ...
A certificate of deposit (CD) is a low-risk deposit account that earns a fixed rate of return. In exchange for this guaranteed yield, you agree to lock up your money until the CD’s term expires.
Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer.
Two popular savings options are certificates of deposit (CDs) and individual retirement accounts (IRAs). While both are designed to help individuals grow their money, they serve different purposes ...