Call deposit account,
Definition of Call deposit account:
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.
A bank account that pays interest and is usually not able to be drawn on without notice or loss of interest.
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.
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
How to use Call deposit account in a sentence?
- Call deposit accounts have no limits on the number of withdrawals and can be accessed at any time.
- Call deposit accounts allow investors to deposit and withdraw funds in several currencies, including the U.S. dollar, the euro, and the British pound.
- A call deposit account is a bank account for investment funds that offers the advantages of both a savings and a checking account.
- Call deposit accounts offer higher interest rates than some money market accounts and a guaranteed level of liquidity.
- 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