A deposit account is a type of bank account where the money in it earns interest.
[British]regional note: in AM, use savings account
deposit account in British English
noun
British
a bank account that earns interest and usually requires notice of withdrawal
Examples of 'deposit account' in a sentence
deposit account
The most straightforward are deposit accounts with banks and building societies.
Times, Sunday Times (2010)
Investors dissatisfied with the low returns on bank deposit accounts are diverting their cash into property.
Times, Sunday Times (2010)
They made less than if they had put their money in a deposit account.
Times, Sunday Times (2013)
Investors would have been better off putting their money in a deposit account.
Times, Sunday Times (2011)
Investors would have been better off putting their money in a deposit account witha bank or building society.
Times, Sunday Times (2008)
Think rather how pleased you might be to find a safe bank deposit account that pays that amount of interest.
Times, Sunday Times (2010)
In his deposit account the money would be earning only 0.2%.
Times, Sunday Times (2010)
Would it be better to keep all the money in deposit accounts - the cheap and cheerful option?
Times, Sunday Times (2009)
If you have money in a deposit account, the first 35,000 is protected.
Times, Sunday Times (2007)
In addition, the money in your deposit account remains yours, so you can withdraw it at any time you want.
Times, Sunday Times (2010)
The average return was a miserly 4.6 per cent - investors would have been better off putting their money into a deposit account.
Times, Sunday Times (2013)
I also have a large deposit account with the bank and could have transferred the money, but it didn't give me that chance.
Times, Sunday Times (2007)
With savers receiving so little for placing their money in deposit accounts they don't lose much by putting their money instead into gold, which pays no interest.