Bank deposit

Bank deposit – in the area of Banking Law, this term refers to a deposit of money, deposited in a bank for a temporary period. The right of the bank is to use the money for this period (usually they give credits to people with this money), and to pay to the depositor interest on the deposited sum. The bank deposits are two main types – these that can be cancelled and money withdrawn at any time (usually with a lower deposit interest), and these, established for certain periods of time (having bigger deposit interest).

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