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What is a business deposit account?
A business deposit account is the same as a savings account for an personal customer. It allows businesses to make some interest on lump sums that they are able to leave in these accounts for a set period of time.
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.
Is a savings account credited when a deposit is made?
Yes
What describes a time deposit?
money in a savings account
How much cash must be deposited to open a checking account at the Whidbey Island Bank?
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
Is a savings account a time deposit?
No, a savings account is not a time deposit. A savings account typically allows for unlimited deposits and withdrawals, while a time deposit requires the funds to be held for a fixed period of time in exchange for a higher interest rate.
What is a business deposit account?
A business deposit account is the same as a savings account for an personal customer. It allows businesses to make some interest on lump sums that they are able to leave in these accounts for a set period of time.
What is the nature of returnable deposit?
A Returnable Deposit is one in which a bank accepts a deposit from a customer and returns it to the customer when he/she wants to take it back. Some of the types are: a. Savings Account Deposits b. Checking Account Deposits c. Fixed Deposits d. Recurring Deposits e. etc.
What is meant by recurring deposit account?
A Recurring Deposit is a special type of bank account wherein the customer will deposit a small amount of money regularly every month. Banks will offer higher interest rates than the usual savings or current accounts because the customer will not withdraw the money until the deposit matures.
How much the initial deposit to open a savings account at bpi family savings account?
1000
Why is investec commercial bank a deposit taking intermediary?
It have a variety of deposit account, such as check account, savings and time deposit
Do many banks pay interest on the money you deposit into your savings account?
Yes, many banks pay interest on the money you deposit into your savings account.
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.
How does an rd account works?
RD stands for Recurring Deposit. A Recurring Deposit is a special type of bank account wherein the customer will deposit a small amount of money regularly every month. Banks will offer higher interest rates than the usual savings or current accounts because the customer will not withdraw the money until the deposit matures.
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.
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
