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A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded ...
A savings account is a good place to keep money for a later date, separate from everyday spending cash, because it offers safety, liquidity and interest-earning potential for your funds. These ...
A certificate of deposit — called a CD — is a savings account that pays a fixed rate of interest on an initial deposit that you agree to lock away for an agreed-on period of time.
A money market account — or MMA — is a type of savings account that combines high rates of return on your money with a few limited, but useful, benefits of a checking account. These safe ...
Fixed deposit. A fixed deposit ( FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in ...
Banking. A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account or bank account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate ...
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