Quick Reference

An account with a bank or other financial institution, such as a building society in the UK. Deposits may be on current account (UK), or checking account or sight deposits (US), which bear relatively low rates of interest and can be withdrawn on demand, or deposit accounts (UK) or savings accounts or time deposits (US), which bear higher rates of interest but require notice of withdrawal. See also import deposit; special deposits; time deposit.

Subjects: Economics.

Reference entries

See all related reference entries in Oxford Index »