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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 The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.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 deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts , current accounts or any of several other types of accounts explained below.
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 demand deposit holds funds that can be returned to the customer at any time on demand. A checking account is a demand deposit, as is a conventional savings account. When the customer demands the ...
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 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 CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
A certificate of deposit — or a CD — is a savings account that pays a fixed rate of interest on an initial deposit that you agree to lock away for an agreed-on period of time. CD terms can ...
Deposit (town), New York; Deposit (village), New York; Deposit account, a bank account that allows money to be deposited and withdrawn by the account holder Demand deposit, the funds held in demand deposit accounts in commercial banks; Damage deposit, a sum of money paid in relation to a rented item or property to ensure it is returned in good ...