A Certificate of Deposit is a special type of deposit account that can be opened by any customer. The customer will deposit a large sum of money with the bank for a predetermined period of time (Usually in months or years). The bank will offer a good interest rate to the customer for parking his/her money long-term with them. The customer wouldn't break his deposit mid term and keep it until maturity because if he does so, he will be charged a penalty for doing so.
Here is a link to a glossary of banking terms. Click the link in 'Related Links'.
what do you mean by clearance in banking
CD interest in banking is rate-based income that one makes from keeping money in a CD (certificate of deposit. CD's typically have higher interest rates than regular savings accounts to substitute for the money being less liquid.
There are several different banking solutions that vary with the business industry. Some include but are not limited to online banking, banking CD's, and payroll manager.
non derogatory in banking means that an account is ok
Here is a link to a glossary of banking terms. Click the link in 'Related Links'.
what do you mean by clearance in banking
CD interest in banking is rate-based income that one makes from keeping money in a CD (certificate of deposit. CD's typically have higher interest rates than regular savings accounts to substitute for the money being less liquid.
There are several different banking solutions that vary with the business industry. Some include but are not limited to online banking, banking CD's, and payroll manager.
non derogatory in banking means that an account is ok
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In banking terms, withdrawal means the removal of money from a bank account. So the opposite is deposit, the adding of money to a bank account
CD ratio is the credit to deposit ratio in banking parlance. This refers to the percentage of total advances divided by the total deposits of a bank/branch. This signifies what proportion of total deposit is lent to borrowers.
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