Deposit: meaning, definitions and examples

Refers to an initial payment made to secure a service or purchase, typically with the intention of paying the remaining balance later.

• We put down a deposit to reserve the venue for our wedding
• You'll need to leave a deposit before you can start the rental agreement

Specifically used to describe an initial, substantial payment made upfront when purchasing something expensive, like a house or car.

• They provided a 20% down payment on their new home
• A down payment is often required to secure a car loan

Refers to a series of regular, smaller payments made over time to pay off a debt or purchase.

• She pays her tuition fees in monthly installments
• The phone was bought on a 12-month installment plan

A general term for any sum of money paid or the act of paying, without specifying the nature of the transaction.

• Rent payment is due on the first of every month
• I've made the payment for the electricity bill

This word is best used in financial or formal contexts, such as when putting money into a bank account or leaving something valuable in a safe place.

• She decided to deposit $500 into her savings account.
• They asked him to deposit the valuable items in the hotel safe.

This phrase is informal and is often used in casual conversations when talking about inserting or adding something into something else.

• Can you put in some more sugar into my coffee?
• She put in a lot of effort to finish the project on time.

This word is more general and can be used in everyday situations when putting something in a specific location.

• Please place the book on the table.
• He carefully placed the vase on the shelf.

This word is typically used when talking about keeping something for a long time, often in a place designed for storage, such as a warehouse or cupboard.

• We need to find a place to store these old documents.
• She stored away her winter clothes in the attic.