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A term deposit is a fixed-term investment that includes the deposit of money into an account at a financial institution. Term deposit investments usually carry short-term maturities ranging from one month to a few years and will have varying levels of required minimum deposits.
This Agreement states the terms and conditions on which we (as your Relationship Institution) will endeavor to place funds into deposit accounts at receiving depository institutions (each a Destination Institution) from a transaction account with us into which you (the Depositor) have deposited funds for such
(C) Deposit placement network The term deposit placement network means a network in which an insured depository institution participates, together with other insured depository institutions, for the processing and receipt of reciprocal deposits.
n 1 : the state of being deposited (as in an account) [holding the property on ] compare escrow, trust. 2 : something placed for safekeeping: as. a : money deposited in a bank esp. to ones credit. demand deposit.
Usually, lenders ask for 3-6 months of bank statements, but if your deposit is from a sale, inheritance, or equity, you might need extra proof like sale agreements or legal documents. If youre using equity from your home as a deposit, youll need to show how much equity you have and that you can afford both mortgages.
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There are four types of deposit accounts namely Savings Bank Account, Current Account, Fixed Deposit Account and Recurring Deposit Account. While opening an account in person, most banks require two forms of identification Address Proof, ID Proof. Proof of Identity - Passport, Driving License, Voters Id card etc,.

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