deposit account

(redirected from Bank deposits)
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Bank Account

An agreement between a bank and a person or institution, whereby the bank agrees to hold money and/or other assets on behalf of the other party. What the holder may do with those assets depends upon the nature of the account. In a checking account or a savings account, the bank holds money and pays the client a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulations. However, the client has the right to withdraw the total amount of money on demand.

deposit account

see COMMERCIAL BANK.

deposit account

or

time account

or

savings account

an individual's or company's account at a COMMERCIAL BANK into which the customer can deposit cash or cheques and from which he or she can draw out money subject to giving notice to the bank. Deposit accounts (unlike CURRENT ACCOUNTS, which are used to finance day-to-day transactions) are mainly held as a form of personal and corporate SAVING and used to finance irregular ‘one-off payments.
References in periodicals archive ?
Cash-rich companies previously preferred bank deposits because they paid slightly higher rates than bonds and were more liquid, with maturity profiles that ranged from days to 12 months.
His statement came as the Cypriot government postponed a vote on the unprecedented one-off bank deposit tax, part of a wider bail-out package, until tomorrow.
The foreign-currency (FC) deposit ratings of all these banks were also downgraded to B2 from B1, capped by Egypt's FC bank deposit ceiling, said Moody's in a statement.
According to Orphanides, any move to tax bank deposits would weaken Cyprus' financial sector and increase risks.
According to the agency, the negligible risk of a moratorium now being imposed in Estonia, as in other eurozone members, is reflected by the eurozone's regional Aaa ceilings for bonds and bank deposits.
bank deposits took some unexpected turns over the past three years amid turbulent financial markets and numerous actions by the U.
ANKARA, Apr 7, 2010 (TUR) -- Turkish people prefer short-term bank deposits, figures by the Banking Regulation and Supervision Agency (BRSA) said on Wednesday.
Prominent among these demands are " increasing the exemption limit of interest earned on bank deposits under Section 80C of Income- Tax Act ( I- T Act) to Rs 25,000 per annum, and hiking the threshold limit for tax deduction at source ( TDS) on interest credited to the customer's account to Rs 1 lakh from the present Rs 10,000 per annum," said K.
Total bank deposits of United Arab Emirates banks amounted to 1.
These ratings are the country's A2 local and foreign currency government bond ratings, the A2 country ceiling for foreign currency bank deposits and the Aa3 country ceiling for foreign currency bonds.
Employing multiple linear regression models and time series data for the period 1973-98, Roy examines the impact of branch expansion on deposit mobilization, investigates correlations between credit disbursement and deposit mobilization, and compares the growth of bank deposits in rural and urban centers in order to identify factors that influence bank deposit growth.
An increasing number, who had traditionally favored domestic bank deposits, are now looking abroad for better returns.