Call Deposit

Call Deposit Meaning:
In deposit terminology, the term Call Deposit refers to a specific type of interest bearing investment account that allows a person to withdraw their money from the account without a penalty. In many cases the money can be withdrawn from a Call Deposit account without prior notification to the bank.

Call Deposit Example:
For example, a person with a Call Deposit account, besides earning a favorable rate of interest, also has considerably more access to their money than people with their money invested in other types of accounts. As a result, a Call Deposit account has considerable advantages over other types of interest bearing accounts when liquidity is required. A Call Deposit account allows the holder instant access to their account and the ability to withdraw their money at any time without having to pay an early withdrawal penalty or inform the bank in advance of their intention to withdraw their funds. Call Deposit accounts generally have a minimum balance which must be maintained in order to take advantage of the benefits.
Related Rates
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