Savings deposits


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Savings deposits

Accounts that pay interest, typically at below-market interest rates, that do not have a specific maturity, and that usually can be withdrawn upon demand.

Savings Account

An account at a bank in which the customer deposits money for any non-immediate use. For example, one may utilize a savings account to save funds for an expensive purchase, such as a house or a car. Because most customers keep money in a savings account for a longer period than a checking account, a savings account pays a slightly higher interest rate. However, the interest rate is not as high as a bond or another low-risk investment. Generally speaking, one may not write a check on a savings account without paying a penalty. This is to disincentivize withdrawals on savings.
References in periodicals archive ?
However, accounting for income tax benefits associated with interest in savings deposits, the difference between annualised returns of liquid funds and savings accounts moderates to 0.
Qatari banks' public sector banks' demand and time & savings deposits amounted to QR28.
Addressing German concerns about supervision of all 6,000 banks in the euro zone, Barroso said the European Commission did not want to use German savings accounts deposits to guarantee savings deposits in Spain.
They received pounds 725million in savings deposits and pounds 125million through an investment from RBS Equity Finance.
On the World Savings Day, 31 October, bankers boasted statists that the household savings deposits reached 158 billion denars, or some 2.
Most traditional banks do not accept the poor as clients because their savings deposits are thought to be too small to use to earn a profit.
In February, time and savings deposits fell by almost 10 percent year on year.
Generally, any interest earned on time or savings deposits is ordinary income that must be included in the account owner's gross income.
76bn dinars, and funds held in time and savings deposits rose 0.
PM Gruevski replied 3,000 firms benefited from the government measures, no banks in Macedonia went under and no citizen lost their savings deposits.
Most banks have two types of savings deposits Au interest bearing and non-interest bearing.
Suppose that John Harris prevails and GSCU decides to count 100 percent of checking and savings deposits as rate sensitive (still treating the IRA savings deposits as not being rate-sensitive).