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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.
With a traditional CD, you make a one-time deposit that earns a fixed APY compounded over the life of your term. After the CD term expires, your principal and interest earned are either returned ...
From there, your new account balance (deposits plus interest) will begin earning interest. For example, let’s say that you made an initial deposit of $10,000, and your bank compounds interest ...
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank.. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.
Demand deposit account definition. A demand deposit account is another term for a checking, savings or money market account. Money in these accounts is highly liquid, and you’ll be able to ...
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
To make a deposit at one of these stores, just stop by the register and ask the cashier to add the money to your Axos debit card. You can add any amount between $20 and $500 at any of these ...