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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 .
Often, the contract is structured in two parts, one representing the lease term and the other a contract of sale. As is usually stated in the lease purchase contract, the option fee and accrued rent credit are both non-refundable should the tenant/buyer decide to walk at the end of the lease.
A savings account — especially a high-yield account — might be better if you prefer easy access to your cash, plan to make regular deposits or want to take advantage of rising interest rates.
A security deposit is a sum of money held in trust. [ 1 ] In leasing, security deposits, also known as "rent deposits", [ 2 ] are required most often by lessors of automobiles , residential property, and commercial real estate .
Even though mortgage rates are high, it might still be a good time for you to buy a home. "With the interest rate on a 30-year mortgage more than doubling over the past few years -- to more than 7%...
A certificate of deposit — or CD — is a type of deposit or savings account that allows you to grow your savings at higher rates of return than a traditional savings account.
A deposit-refund system (DRS), also known as deposit-return system, advance deposit fee or deposit-return scheme, is a surcharge on a product when purchased and a rebate when it is returned. A well-known example is when container deposit legislation mandates that a refund is given when reusable packaging is returned.
Benefits of online and digital banking. Higher rates and lower fees. Online banks save a bundle without operating branch locations, and these savings translate into stronger annual percentage ...