Deposit |
| A deposit account with a bank or financial institution which earns interest normally proportional to and below current base rates. The notice period for withdrawal will also affect the interest rate. In contrast to a current account, no cheque book is issued with a deposit account. A deposit can also refer to money transferred in advance to show intention to complete the purchase of a property ? and the deposit in this case is forfeited if the purchaser fails to complete on the contract. |
|
|