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
investors account, savings account, chequing account, banded interest

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.
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