Business terms and jargon explained. Your business dictionary

What is Money Deposit

This is an account for cash. Banks and other financial institutions hold these accounts where interest is paid on a regular basis. The rate of interest can be variable to market conditions or can be a fixed rate. Interest can be paid daily, weekly, monthly or yearly. There may be conditions on withdrawal, where there may be a limit or a notice period.

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Term created / updated 2006-05-20 09:44:53

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