|
What does Deposit mean?
A deposit is the sum of money you pay upfront to the seller of a property, sum which is usually paid after the completion of the contract/agreement.
A deposit can also mean the sum of money you regularly feed your banking account with, so that you build yourself a capital which will accumulate interest over a period of time. It also may refer to the very first payment you are required to make when contracting a loan for example. |