Term Deposit Account

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  1. Term Deposit Account Definition
  2. Best Term Deposit
  3. Term Deposit Rates
  4. Term Deposit Account Opening Form
  5. Term Deposit Account Meaning

Term Deposit Journal Entries The term deposit journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of term or fixed deposits. In each case the term deposit journal entries show the debit and credit account together with a brief narrative. If you are looking to invest your money over a fixed period of time and earn interest rewards, Demerara Bank’s Term Deposit Account is ideal for you. Terms & Rates: 3 months - 1%; 6 months - 1.25%; 12 months - 1.3%; What you need to know.

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Term Deposit Account Definition

Related to deposit account: savings account, Demand deposit account

Best Term Deposit

Bank Account

An agreement between a bank and a person or institution, whereby the bank agrees to hold money and/or other assets on behalf of the other party. What the holder may do with those assets depends upon the nature of the account. In a checking account or a savings account, the bank holds money and pays the client a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulations. However, the client has the right to withdraw the total amount of money on demand.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

deposit account

see COMMERCIAL BANK.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

deposit account

or

time account

or

savings account

an individual's or company's account at a COMMERCIAL BANK into which the customer can deposit cash or cheques and from which he or she can draw out money subject to giving notice to the bank. Deposit accounts (unlike CURRENT ACCOUNTS, which are used to finance day-to-day transactions) are mainly held as a form of personal and corporate SAVING and used to finance irregular ‘one-off payments.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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Term Deposit Rates


Term deposit account interest rates

ICICI BANK UK PLC – We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).

Term Deposit Account Opening Form

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

Term Deposit Account Meaning

In respect of deposits, from 30 January 2017, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.