deposit account

USAGE SUMMARY

The term "deposit account" is correct and usable in written English.
You can use it when referring to a bank account in which one deposits funds. For example, "I opened a new deposit account with the bank last week."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

A money market deposit account, on the other hand, is entirely different.

The New York Times

Icesave was a bank deposit account that promised market-leading interest rates.

The Guardian - Opinion

Wells Fargo had cheated the most ordinary Americans: anyone opening a deposit account with the bank.

The Guardian - Business

Or consider a money market deposit account, which most banks offer.

The New York Times

A money market deposit account, on the other hand, is something entirely different.

The New York Times

When a bank makes a loan, it credits the money to the borrower's deposit account.

The Economist

For a higher rate tax payer it is 8.33percentnt.' · Try to save cash in a deposit account.

The Guardian - Money

We will examine the value of investing overseas or hedge funds through to sticking money in a cash deposit account.

The Guardian

That return, he said, would not be unusual for a security deposit account at today's low interest rates.

The New York Times

It may therefore make more sense to hold any surplus money you may have in a high-yielding deposit account rather than repaying the student loan.

The Guardian - Money

Anyone holding Houblon notes should be able to pay them into a deposit account held at a bank or building society.

The Guardian - Money

Expert writing Tips

Best practice

When discussing interest rates, specify the type of "deposit account" to provide context. For example, mention whether it's a savings account, a money market account, or a certificate of deposit.

Common error

Avoid using "deposit account" and "money market account" interchangeably. While a money market account is a type of deposit account, it typically has higher minimum balance requirements and may offer tiered interest rates.

Linguistic Context

The phrase "deposit account" functions primarily as a noun phrase. It is used to identify a type of bank account where funds are deposited. Ludwig AI confirms its correctness and usability in written English.

Expression frequency: Very common

Frequent in

News & Media

40%

Science

20%

Formal & Business

15%

Less common in

Encyclopedias

5%

Wiki

10%

Reference

0%

Ludwig's WRAP-UP

The term "deposit account" is a grammatically correct and commonly used noun phrase referring to a bank account where funds are deposited. Ludwig AI confirms its validity. While often used interchangeably with terms like ""savings account"" or ""bank account"", it's essential to consider the specific context to ensure clarity. The phrase appears frequently in news, scientific, and formal business contexts, indicating its broad applicability. A best practice is to specify the type of "deposit account" when discussing interest rates or specific features to avoid confusion. Overall, "deposit account" is a versatile and essential term in the realm of personal finance.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

savings account

Focuses specifically on accounts designed for saving money, whereas "deposit account" is a broader term.

bank account

A general term referring to any account held at a bank, including checking and savings accounts.

checking account

Specifically an account for everyday transactions, unlike the broader "deposit account".

cash account

Emphasizes the cash held within the account, rather than the account itself.

monetary account

Highlights the financial nature of the account.

funds account

Refers to an account holding funds, often for a specific purpose.

financial account

A more general term encompassing various types of accounts related to finances.

client account

Typically refers to an account held on behalf of a client.

member account

Refers to an account held by a member of a financial institution.

customer account

A general term for an account held by a customer at a bank or other business.

FAQs

How to use "deposit account" in a sentence?

You can use "deposit account" in a sentence like: "I opened a new "savings account", which is a type of "deposit account", to save for my future.".

What's the difference between "deposit account" and "savings account"?

A "deposit account" is a general term for an account where you can deposit money. A "savings account" is a specific type of "deposit account" designed for saving money and earning interest.

What can I say instead of "deposit account"?

Depending on the context, you can use alternatives like "bank account", "savings account", or "checking account".

Which is correct, "deposit account" or "deposit accounts"?

"Deposit account" refers to a single account, while "deposit accounts" refers to multiple accounts. Both are grammatically correct, depending on the context.