Call Deposit Account

Definition

  • A type of bank account that combines some of the features of savings and checking accounts. A call deposit account is similar to a savings account in that the account pays interest, but is also similar to a checking account in that it does not have a fixed deposit period, allows for unlimited deposits and withdrawals, and provides instant access to funds.

Synonyms
banded interest, chequing account, investors account, savings account

Related Terms and Acronyms

  • Chequing Account Definition,
    • A bank account that allows quick access to the money in the account.
  • Combination Account Definition,
    • An account that is part savings and part chequing. You may write cheques and you will be paid interest if you have enough money in the account.
  • Foreign Currency (FCY) Acronym,
    • Paper money and coins from other countries.
  • Foreign Exchange Rate (FXRate) Abbreviation,
    • The value of a nation's currency in terms of another nation's currency
  • Interest (IN, int) Acronym & Abbreviation,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Overdraft Protection Definition,
    • A service that allows a chequing account to be linked to another savings or line of credit to provide protection against insufficient funds or overdrafts.
  • Savings Account Definition,
    • A financial account that pays interest with low risk.
  • Time Deposit Definition,
    • A type of deposit account with a stated maturity at which time the account reverts to another type of account or is "rolled over" for another fixed period of time.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage