Business Terms and Jargon Explained

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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