Call Deposit Account
Definition
- A type of bank account that combines some of the features of savings and checking accounts. A call deposit account is similar to a savings account in that the account pays interest, but is also similar to a checking account in that it does not have a fixed deposit period, allows for unlimited deposits and withdrawals, and provides instant access to funds.
Synonyms
banded interest, chequing account, investors account, savings account
Related Terms and Acronyms
- Chequing Account — Definition,
- A bank account that allows quick access to the money in the account.
- Combination Account — Definition,
- An account that is part savings and part chequing. You may write cheques and you will be paid interest if you have enough money in the account.
- Foreign Currency (FCY) — Acronym,
- Paper money and coins from other countries.
- Foreign Exchange Rate (FXRate) — Abbreviation,
- The value of a nation's currency in terms of another nation's currency
- Interest (IN, int) — Acronym & Abbreviation,
- Money paid for the use of borrowed funds, usually expressed as an annual percentage.
➥ Bank account transaction code. - Overdraft Protection — Definition,
- A service that allows a chequing account to be linked to another savings or line of credit to provide protection against insufficient funds or overdrafts.
- Savings Account — Definition,
- A financial account that pays interest with low risk.
- Time Deposit — Definition,
- A type of deposit account with a stated maturity at which time the account reverts to another type of account or is "rolled over" for another fixed period of time.
