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Definition of sight deposit in English: sight depositnoun A bank deposit that can be withdrawn immediately without notice or penalty. Example sentencesExamples - The high growth rate of low cost funds, such as savings and sight deposits, is the result of the ‘maturing’ phase of the new branch network units.
- The bank's banking services include offering loans; deposits, such as sight deposits, term deposits, savings deposits; and savings certificates and bonds.
- The increase in transaction accounts resulted in a greater volume of corporate sight deposits.
- As of October 1, 2004 the interest rate on a sight deposit is 0.55% as well as in the client's funds on the current account.
- If a customer has the right to withdraw funds instantly, without interest, tax relief or other penalty, from their deposit account, the account should be recorded as a sight deposit.
Definition of sight deposit in US English: sight depositnoun A bank deposit that can be withdrawn immediately without notice or penalty. Example sentencesExamples - The bank's banking services include offering loans; deposits, such as sight deposits, term deposits, savings deposits; and savings certificates and bonds.
- If a customer has the right to withdraw funds instantly, without interest, tax relief or other penalty, from their deposit account, the account should be recorded as a sight deposit.
- As of October 1, 2004 the interest rate on a sight deposit is 0.55% as well as in the client's funds on the current account.
- The high growth rate of low cost funds, such as savings and sight deposits, is the result of the ‘maturing’ phase of the new branch network units.
- The increase in transaction accounts resulted in a greater volume of corporate sight deposits.
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