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pay interest, typically at below-market interest rates, that do not have a specific maturity, and that usually can be withdrawn upon demand.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 ?
I do not want to take the savings deposits of Germans and use those to secure the savings deposits in Spain.
Since the outbreak of the global crisis in 2008 by end September this year, savings deposits in Macedonia went up 50 percent, the only increase in Europe, National Bank Governor Dimitar Bogov said.
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.
4 per cent decline in time and savings deposits, the strongest since January, and a 3.
As a result, the savings deposits of banks show marked growth just before the raffle draw date.
How does the percent of the checking and savings deposits that GSCU assigns as rate sensitive affect the GAP analysis and the resulting change in profits from a change in interest rates.
This strategy involves transferring funds from mutual funds to savings deposits at banks in order to take advantage of FDIC insurance.
Checking and savings deposits will be transferred after the deal closes, but no firm time frame has been set.
Retail time and savings deposits, on the other hand, continued to become a larger source of funding, partly because depositors transferred or diverted funds from savings and loan institutions and partly because banks acquired thrift institutions.
Brazilian mortgage lending taps traditional funding sources, especially savings deposits, and interest rates on mortgage loans funded via savings deposits are capped.
According to the latest statistics of the National Bank of Macedonia, savings deposits totaled 4.