Deposit
A deposit is a specific sum of money taken and held on account, by a bank as a service provided for its clients. A financial institution wishing to take deposits are generally required be under financial supervision, and to hold a banking license.
The sum of the held deposits represents an asset, which the bank in turn can use to give loans.
See also: Finance, purchase deposit.
Referenced By
Finance | Finance and investment | Financial | List of finance topics
|
