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Q: Is a savings account a time deposit?
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Which of these describes a time deposit?

Money in a savings account is an example of a time deposit.


What describes a time deposit?

money in a savings account


Why is investec commercial bank a deposit taking intermediary?

It have a variety of deposit account, such as check account, savings and time deposit


What is the name of the special savings account that requires the bank and the customer to agree on the savings amount and the time that it will be on deposit?

I believe you are thinking of a certificate of deposit.


What is the purpose of a savings?

A Savings Account is a type of account that is designed to promote savings among the general public. You can deposit and withdraw money from this account but at the same time the bank offers you an interest on the money deposited into the account.


What is a certificate of deposit?

When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.


How much the initial deposit to open a savings account at bpi family savings account?

1000


What is the minimum deposit to open a savings account with SunTrust?

The minimum deposit required in order to open a savings account with Sun Trust in one hundred dollars and with this you can start your own savings account with Sun Trust.


Which of these is a type of savings account that is designed to accrue interest for a specific period of time?

certificate of deposit


Which is a type of savings account that is designed to accrue interest for a specific period of time?

certificate of deposit


What is required to open a high yield savings account with a bank?

Banks may require a deposit of $1 to $100 to start a high yield savings account. At this time many banks are offering high yield savings accounts with fees and no minimum balance after the deposit.


What is the purpose of a business deposit account?

Business deposit accounts are also known as business savings account where one can deposit an amount of money as savings for one's business. Most savings accounts will also offer interest rates.