Definition

Noun: 1. Money placed into a bank account: A "bank deposit" refers to a sum of money that is placed into a bank or similar financial institution for safekeeping, to earn interest, or to facilitate transactions.

Usage

• The term "bank deposit" is used to describe the action of placing money into an account or the money itself that has been placed. It is a standard term in personal and business finance.
• It is typically used in contexts discussing banking, savings, investments, and financial security.

Examples

• Noun:
  • Making a large bank deposit increased her savings account balance.
  • The security of a bank deposit is protected by government insurance.
  • His first bank deposit was a modest amount from his summer job.

Advanced Usage

• "Demand deposit": A type of bank deposit that can be withdrawn at any time without prior notice, such as funds in a checking account.
  • A checking account is a common form of a demand deposit.
• "Time deposit": A bank deposit that is held for a fixed term, often with a higher interest rate, such as a certificate of deposit (CD).
  • He locked his money in a time deposit for one year to earn more interest.

Variants and Related Words

• Deposit (n/ v): The general act of placing money or an item for safekeeping, or the item/money itself. "Bank deposit" is a specific type of deposit.
  • Please deposit this check at the bank. (verb)
  • The rental required a security deposit. (noun)
• Depositor (n): A person or entity that makes a deposit.
  • The bank guarantees protection for every depositor.

Synonyms

• Account balance: The amount of money held in an account, which results from deposits and withdrawals.
• Funds on deposit: A formal phrase for money that has been placed in a bank.

Related Phrases

• "Make a deposit": The action of putting money into a bank account.
  • I need to make a deposit before writing more checks.
• "Deposit slip": A paper form used to itemize funds being deposited into an account.
  • Fill out the deposit slip with the cash and check amounts.

Noun

1. money deposited in a bank or some similar institution