Call deposit account

Call deposit account,

Definition of Call deposit account:

  1. A call deposit account is a bank account for investment funds that offers the advantages of both a savings and a checking account. Like a checking account, a call deposit account has no fixed deposit period, provides instant access to funds, and allows unlimited withdrawals and deposits. The call deposit also provides the benefits of a savings account through the accrual of interest.

  2. A bank account that pays interest and is usually not able to be drawn on without notice or loss of interest.

  3. Call deposit accounts provide the benefits of an interest-bearing account without the risk of withdrawal penalties. The rate of interest a call deposit account pays depends on the amount of money in the account, a system commonly referred to as banded interest rates.

  4. A type of account whereby a bank customer and / or investor who has accounts at that firm may make deposits or withdrawals any time.

Synonyms of Call deposit account

Bank account

How to use Call deposit account in a sentence?

  1. Call deposit accounts have no limits on the number of withdrawals and can be accessed at any time.
  2. Call deposit accounts allow investors to deposit and withdraw funds in several currencies, including the U.S. dollar, the euro, and the British pound.
  3. A call deposit account is a bank account for investment funds that offers the advantages of both a savings and a checking account.
  4. Call deposit accounts offer higher interest rates than some money market accounts and a guaranteed level of liquidity.
  5. They work by tying together your current account, your deposit account, any personal borrowings and your mortgage.

Meaning of Call deposit account & Call deposit account Definition