Question:

What Does Bank Deposits Mean?

by Guest1674  |  earlier

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I am a student of Finance; we have recently studied the chapter Bank Deposits. I cannot fully and completely understand this term. Is there any authentic website that can answer my query with complete and comprehensive details?

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  1. Angelina

     Deposit Means:
    • A transaction engaging a move of money to another party for safekeeping.
    • A piece of capital that is utilised as security or collateral for the consignment of a good.
    Bank Deposits Mean:
    Money put into a banking organisation for safekeeping. Bank down payments are made to deposit anecdotes at a banking organisation, for example savings anecdotes, ascertaining anecdotes and cash market accounts. The account holder has the right to remove any made a down fee capital, as set forward in the periods and situation of the account. The "deposit" itself is a liability was obliged by the bank to the depositor (the individual or entity that made the deposit), and mentions to this liability other than to the genuine capital that are deposited.
    Major kinds of Bank accounts:
    • Checking accounts: A deposit account held at a bank or other economic organisation, for the reason of securely and rapidly supplying common get access to to capital on demand, through a kind of distinct channels. Because cash is accessible on demand these anecdotes are furthermore mentioned to as demand anecdotes or demand deposit accounts.
    • Savings accounts: Accounts sustained by retail banks that yield concern but will not be utilised exactly as cash (for demonstration, by composing a cheque). Although not as befitting to use as ascertaining anecdotes, these anecdotes let clients hold fluid assets while still making a monetary return.
    • Money market account: A deposit account with a somewhat high rate of concern, and short observe (or no notice) needed for withdrawals. In the United States, it is a method of instant get access to deposit subject to government savings account guidelines, for example a monthly transaction limit.
    • Time deposit: A cash deposit at a banking organization that will not be removed for a preset repaired 'term' or time span of time. When the period is over it can be removed or it can be revolved over for another term. Generally talking, the longer the period the better the yield on the money.

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