Meaning of the word "deposit account" in English
What does "deposit account" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
deposit account
US /dɪˈpɑːzɪt əˈkaʊnt/
UK /dɪˈpɒzɪt əˈkaʊnt/
Noun
a bank account that allows money to be deposited and withdrawn, often earning interest, but typically with some restrictions on withdrawals compared to a checking account
Example:
•
I opened a deposit account to save money for a down payment on a house.
•
The bank offers competitive interest rates on its deposit accounts.
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